Short Interest in Nerdy, Inc. (NYSE:NRDY) Rises By 20.3%

Nerdy, Inc. (NYSE:NRDY) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 6,820,000 shares, an increase of 20.3% from the November 30th total of 5,670,000 shares. Based on an average daily trading volume, of 2,120,000 shares, the short-interest ratio is currently 3.2 days. Currently, 28.4% of the company’s stock are short sold.

Insider Buying and Selling at Nerdy

In other news, insider Christopher C. Swenson sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $1.24, for a total transaction of $43,400.00. Following the completion of the sale, the insider now owns 1,768,248 shares of the company’s stock, valued at approximately $2,192,627.52. This trade represents a 1.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason H. Pello sold 70,490 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $1.06, for a total transaction of $74,719.40. Following the transaction, the chief financial officer now owns 2,255,428 shares in the company, valued at $2,390,753.68. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 13,455,750 shares of company stock valued at $15,530,190 and sold 160,732 shares valued at $211,015. 31.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nerdy

Hedge funds have recently made changes to their positions in the company. Rhumbline Advisers raised its stake in Nerdy by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock valued at $142,000 after purchasing an additional 8,834 shares during the period. State Street Corp grew its holdings in shares of Nerdy by 0.9% during the third quarter. State Street Corp now owns 1,253,663 shares of the company’s stock valued at $1,232,000 after buying an additional 11,721 shares in the last quarter. nVerses Capital LLC purchased a new stake in Nerdy in the 2nd quarter worth about $34,000. SG Americas Securities LLC acquired a new stake in Nerdy during the 3rd quarter worth about $29,000. Finally, AM Investment Strategies LLC purchased a new position in Nerdy during the 3rd quarter valued at about $29,000. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Wall Street Analyst Weigh In

NRDY has been the topic of a number of recent research reports. JMP Securities reiterated a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $2.00 price objective on shares of Nerdy in a report on Friday, November 8th. Northland Securities reduced their target price on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. lowered shares of Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $1.00 price objective (down from $6.00) on shares of Nerdy in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.86.

Nerdy Price Performance

Shares of NYSE:NRDY traded down $0.03 on Tuesday, reaching $1.62. 997,292 shares of the company traded hands, compared to its average volume of 1,774,961. The stock has a market capitalization of $292.21 million, a PE ratio of -4.76 and a beta of 2.00. The company’s 50 day moving average is $1.33 and its 200-day moving average is $1.30. Nerdy has a fifty-two week low of $0.73 and a fifty-two week high of $3.60.

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.