Skillsoft (NYSE:SKIL) Trading 1.5% Higher - Here's What Happened

Key Points

• Skillsoft shares rose 1.5% on Wednesday, trading as high as $8.10 before last changing hands at $7.96, with volume below its normal pace.
• Analyst sentiment remains cautious: Weiss Ratings reaffirmed a “sell (e+)” rating, and MarketBeat shows a consensus rating of “Reduce” for the stock.
• Recent results were mixed: Skillsoft beat earnings expectations for the quarter but missed revenue estimates, while the company continues to show weak profitability metrics and high leverage.

Skillsoft Corp. (NYSE:SKIL - Get Free Report)'s stock price was up 1.5% during trading on Wednesday . The company traded as high as $8.10 and last traded at $7.96. 90,875 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 165,050 shares. The stock had previously closed at $7.84.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Skillsoft in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce".

Skillsoft Trading Up 1.5%

The firm has a market capitalization of $71.40 million, a PE ratio of -0.48, a price-to-earnings-growth ratio of 0.26 and a beta of 2.27. The company's 50-day simple moving average is $7.07 and its 200 day simple moving average is $6.61. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 142.97.

Skillsoft (NYSE:SKIL - Get Free Report) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $1.11. The firm had revenue of $94.50 million for the quarter, compared to the consensus estimate of $121.10 million. Skillsoft had a negative net margin of 30.00% and a negative return on equity of 221.25%. As a group, sell-side analysts expect that Skillsoft Corp. will post 3 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jim Frankola bought 27,000 shares of the stock in a transaction on Monday, June 15th. The stock was bought at an average cost of $6.05 per share, for a total transaction of $163,350.00. Following the completion of the purchase, the director directly owned 95,306 shares in the company, valued at approximately $576,601.30. The trade was a 39.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 16.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Skillsoft

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its holdings in shares of Skillsoft by 11.1% during the first quarter. Renaissance Technologies LLC now owns 61,009 shares of the company's stock valued at $262,000 after buying an additional 6,100 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Skillsoft by 23.7% in the first quarter. Bank of New York Mellon Corp now owns 15,561 shares of the company's stock valued at $67,000 after purchasing an additional 2,985 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Skillsoft by 374.2% during the fourth quarter. NewEdge Advisors LLC now owns 7,331 shares of the company's stock worth $68,000 after purchasing an additional 5,785 shares during the period. XTX Topco Ltd purchased a new stake in Skillsoft in the fourth quarter valued at approximately $100,000. Finally, Engineers Gate Manager LP purchased a new stake in Skillsoft in the fourth quarter valued at approximately $125,000. 87.00% of the stock is currently owned by institutional investors and hedge funds.

Skillsoft Company Profile

Skillsoft NYSE: SKIL is a leading provider of corporate digital learning solutions designed to help organizations develop skills and drive performance. The company offers a range of cloud-based learning platforms and content libraries that cover technical training, leadership development, compliance, and productivity applications. Skillsoft's flagship platform, Percipio, delivers micro-learning modules, video tutorials, books and audiobooks, hands-on labs and simulations, and practice assessments within a unified interface that can be accessed on desktop or mobile devices.

Skillsoft's content spans IT certification preparation, software development, cloud computing, cybersecurity, project management, and a variety of professional skills such as communication, management and sales.

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