Skillsoft (NYSE:SKIL) Issues Earnings Results, Beats Expectations By $1.11 EPS

Skillsoft (NYSE:SKIL) announced its quarterly earnings results on Tuesday. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $1.11, FiscalAI reports. The business 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 27.27% and a positive return on equity of 112.12%.

Skillsoft Stock Down 11.4%

SKIL stock traded down $0.79 during mid-day trading on Tuesday, hitting $6.14. 160,283 shares of the company were exchanged, compared to its average volume of 175,259. The company has a debt-to-equity ratio of 142.97, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $54.99 million, a P/E ratio of -0.38, a P/E/G ratio of 0.21 and a beta of 2.23. The firm’s 50 day simple moving average is $6.49 and its 200 day simple moving average is $6.90. Skillsoft has a 1-year low of $3.43 and a 1-year high of $21.25.

Institutional Trading of Skillsoft

Several hedge funds have recently bought and sold shares of SKIL. Bank of America Corp DE raised its holdings in Skillsoft by 330.0% during the 4th quarter. Bank of America Corp DE now owns 1,750 shares of the company’s stock worth $42,000 after buying an additional 1,343 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of Skillsoft by 20.5% during the first quarter. Cubist Systematic Strategies LLC now owns 9,370 shares of the company’s stock worth $180,000 after buying an additional 1,593 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Skillsoft by 122.9% during the first quarter. Goldman Sachs Group Inc. now owns 150,254 shares of the company’s stock worth $2,891,000 after buying an additional 82,860 shares during the period. Jane Street Group LLC acquired a new position in shares of Skillsoft during the first quarter worth about $296,000. Finally, Acadian Asset Management LLC boosted its position in shares of Skillsoft by 286.0% during the first quarter. Acadian Asset Management LLC now owns 40,374 shares of the company’s stock worth $774,000 after buying an additional 29,914 shares during the period. 87.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SKIL. Zacks Research downgraded shares of Skillsoft from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Skillsoft in a research report on Friday, March 27th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

About Skillsoft

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.