Nerdy's (NRDY) Buy Rating Reiterated at Needham & Company LLC

Nerdy (NYSE:NRDY - Get Free Report)'s stock had its "buy" rating restated by Needham & Company LLC in a research note issued on Wednesday, Benzinga reports. They presently have a $4.00 price target on the stock. Needham & Company LLC's price target indicates a potential upside of 65.98% from the company's current price.

Separately, JPMorgan Chase & Co. initiated coverage on shares of Nerdy in a research report on Monday, March 11th. They set an "overweight" rating and a $5.00 target price on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $4.71.

Nerdy Stock Down 9.1 %

NYSE NRDY traded down $0.24 on Wednesday, reaching $2.41. The company had a trading volume of 5,275,752 shares, compared to its average volume of 1,122,632. The stock has a market capitalization of $418.64 million, a P/E ratio of -5.29 and a beta of 1.90. The company's fifty day moving average is $2.79 and its 200 day moving average is $2.96. Nerdy has a 52-week low of $1.92 and a 52-week high of $5.37.

Nerdy (NYSE:NRDY - Get Free Report) last announced its earnings results on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. Nerdy had a negative net margin of 20.77% and a negative return on equity of 48.96%. The company had revenue of $53.73 million during the quarter, compared to the consensus estimate of $52.20 million. During the same quarter in the prior year, the company posted ($0.12) earnings per share. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. On average, research analysts expect that Nerdy will post -0.33 EPS for the current year.

Insider Activity

In other Nerdy news, CFO Jason H. Pello sold 41,896 shares of the company's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $3.13, for a total value of $131,134.48. Following the transaction, the chief financial officer now directly owns 1,505,244 shares in the company, valued at approximately $4,711,413.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Nerdy news, insider Christopher C. Swenson sold 25,000 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $2.96, for a total transaction of $74,000.00. Following the transaction, the insider now directly owns 1,233,248 shares in the company, valued at $3,650,414.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason H. Pello sold 41,896 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $3.13, for a total transaction of $131,134.48. Following the completion of the sale, the chief financial officer now owns 1,505,244 shares of the company's stock, valued at $4,711,413.72. The disclosure for this sale can be found here. Over the last three months, insiders purchased 217,991 shares of company stock worth $629,314 and sold 126,091 shares worth $370,371. 31.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nerdy

A number of large investors have recently bought and sold shares of NRDY. Cutter & CO Brokerage Inc. bought a new stake in Nerdy during the 3rd quarter valued at $41,000. SG Americas Securities LLC bought a new position in Nerdy during the 4th quarter valued at approximately $50,000. Tower Research Capital LLC TRC lifted its holdings in Nerdy by 1,765.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,051 shares of the company's stock worth $52,000 after buying an additional 14,244 shares during the period. PEAK6 Investments LLC bought a new stake in shares of Nerdy in the 3rd quarter worth approximately $56,000. Finally, Aigen Investment Management LP bought a new position in shares of Nerdy during the third quarter valued at approximately $59,000. 39.10% of the stock is owned by hedge funds and other institutional investors.

About Nerdy

Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including artificial intelligence to connect students, users, parents, guardians, and purchasers of various ages to tutors, instructors, subject matter experts, educators, and other professionals, delivering value on both sides of the network.