Nerdy (NYSE:NRDY) PT Lowered to $3.00

Nerdy (NYSE:NRDY) had its price target decreased by Barclays from $4.00 to $3.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 263.28% from the stock’s current price.

A number of other research firms have also issued reports on NRDY. JPMorgan Chase & Co. lowered Nerdy from an “overweight” rating to a “neutral” rating in a research note on Friday. Raymond James lowered Nerdy from an “outperform” rating to a “market perform” rating in a research note on Friday. Northland Securities cut Nerdy from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $5.00 to $3.00 in a report on Friday. The Goldman Sachs Group raised their price target on Nerdy from $3.25 to $3.75 and gave the company a “neutral” rating in a report on Thursday, May 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 price target on shares of Nerdy in a report on Friday, May 17th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.58.

Nerdy Stock Down 48.1 %

Shares of NYSE:NRDY traded down $0.76 during midday trading on Friday, reaching $0.83. 21,429,245 shares of the company traded hands, compared to its average volume of 987,102. Nerdy has a 12 month low of $0.82 and a 12 month high of $5.13. The firm has a market capitalization of $145.09 million, a price-to-earnings ratio of -2.95 and a beta of 1.73. The firm’s fifty day moving average price is $1.65 and its two-hundred day moving average price is $2.36.

Insider Activity at Nerdy

In other news, CEO Charles K. Cohn acquired 353,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were bought at an average cost of $1.59 per share, with a total value of $561,270.00. Following the acquisition, the chief executive officer now owns 353,000 shares in the company, valued at approximately $561,270. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Charles K. Cohn purchased 353,000 shares of Nerdy stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average cost of $1.59 per share, for a total transaction of $561,270.00. Following the transaction, the chief executive officer now directly owns 353,000 shares in the company, valued at $561,270. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles K. Cohn purchased 500,000 shares of Nerdy stock in a transaction that occurred on Wednesday, June 12th. The shares were bought at an average price of $1.80 per share, for a total transaction of $900,000.00. Following the completion of the transaction, the chief executive officer now owns 1,422,976 shares in the company, valued at $2,561,356.80. The disclosure for this purchase can be found here. In the last three months, insiders have bought 1,200,275 shares of company stock valued at $2,131,511. Corporate insiders own 31.35% of the company’s stock.

Institutional Investors Weigh In On Nerdy

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in shares of Nerdy in the 4th quarter worth approximately $50,000. Tower Research Capital LLC TRC boosted its position in shares of Nerdy by 1,765.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,051 shares of the company’s stock valued at $52,000 after purchasing an additional 14,244 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Nerdy during the second quarter valued at approximately $34,000. Bayesian Capital Management LP bought a new stake in shares of Nerdy during the first quarter valued at approximately $101,000. Finally, Certuity LLC bought a new stake in shares of Nerdy during the fourth quarter valued at approximately $120,000. 39.10% of the stock is currently owned by institutional investors.

Nerdy Company Profile

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.