Skillsoft (NYSE:SKIL) Trading Down 1.5% – What’s Next?

Skillsoft Corp. (NYSE:SKIL)’s stock price fell 1.5% during mid-day trading on Wednesday . The stock traded as low as $14.78 and last traded at $15.07. 9,001 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 52,991 shares. The stock had previously closed at $15.30.

Skillsoft Stock Performance

The firm has a fifty day simple moving average of $15.44 and a 200-day simple moving average of $13.58. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 4.07.

Skillsoft (NYSE:SKIL) last issued its earnings results on Monday, September 9th. The company reported ($2.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.96) by $1.56. The company had revenue of $132.22 million for the quarter, compared to analysts’ expectations of $131.39 million. Skillsoft had a negative return on equity of 41.27% and a negative net margin of 63.42%. Equities research analysts anticipate that Skillsoft Corp. will post -10.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its position in Skillsoft by 20.5% in the 2nd quarter. Renaissance Technologies LLC now owns 22,909 shares of the company’s stock valued at $317,000 after acquiring an additional 3,900 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Skillsoft in the third quarter worth approximately $52,000. Geode Capital Management LLC lifted its holdings in shares of Skillsoft by 7.5% in the third quarter. Geode Capital Management LLC now owns 45,622 shares of the company’s stock valued at $707,000 after purchasing an additional 3,182 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of Skillsoft during the second quarter valued at approximately $39,000. 87.00% of the stock is currently owned by institutional investors and hedge funds.

About Skillsoft

Skillsoft Corp. provides content and platform and instructor-led training services in the United States and internationally. The company's Content & Platform segment engages in the sale, marketing, and delivery of its content learning solutions in areas, such as leadership and business, technology and developer, and compliance comprising individualized coaching, as well as technical skill areas.