Nerdy, Inc. (NYSE:NRDY – Get Rating) shares fell 3.3% during mid-day trading on Tuesday . The stock traded as low as $3.22 and last traded at $3.23. 15,672 shares were traded during mid-day trading, a decline of 99% from the average session volume of 1,437,527 shares. The stock had previously closed at $3.34.
A number of equities analysts have weighed in on NRDY shares. The Goldman Sachs Group cut shares of Nerdy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $8.00 to $3.00 in a research report on Tuesday, May 17th. JMP Securities dropped their target price on shares of Nerdy from $11.00 to $7.00 and set a “market outperform” rating for the company in a report on Tuesday, May 17th. Needham & Company LLC dropped their target price on shares of Nerdy from $8.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, May 17th. JPMorgan Chase & Co. dropped their target price on shares of Nerdy from $11.00 to $7.00 in a report on Tuesday, May 17th. Finally, Cantor Fitzgerald initiated coverage on shares of Nerdy in a research report on Tuesday, March 29th. They issued an “overweight” rating and a $7.00 target price on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Nerdy has an average rating of “Moderate Buy” and an average target price of $6.60.
The firm has a 50 day moving average price of $3.15 and a 200-day moving average price of $4.12.
Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of Nerdy by 3,036.0% during the first quarter. Royal Bank of Canada now owns 5,488 shares of the company’s stock worth $28,000 after purchasing an additional 5,313 shares during the last quarter. Citigroup Inc. acquired a new position in Nerdy in the first quarter valued at about $55,000. Bank of America Corp DE lifted its stake in Nerdy by 108,950.0% in the first quarter. Bank of America Corp DE now owns 13,086 shares of the company’s stock valued at $67,000 after buying an additional 13,074 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in shares of Nerdy during the first quarter worth about $74,000. Finally, Sciencast Management LP acquired a new stake in shares of Nerdy during the first quarter worth about $99,000. 56.01% of the stock is currently owned by institutional investors and hedge funds.
Nerdy Company Profile (NYSE:NRDY)
Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including AI, to connect learners of various ages to experts, delivering value on both sides of the network. Its learning destination provides learning experiences across various subjects and multiple formats, including one-on-one instruction, small group classes, large format group classes, and adaptive self-study.
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