K12 Inc. [NYSE: LRN] gained 7.80% or 1.73 points to close at $23.92 with a heavy trading volume of 1708759 shares. The company report on November 18, 2020 that Stride, Inc. Expands Ability to Meet Demands of IT Skills Gap with Acquisition of Tech Elevator.
Tech Elevator boasts industry-leading job placement rate of 92%, as grads go on to Accenture, JP Morgan Chase, PNC, and more.
K12 Inc. (NYSE: LRN) – to be Stride, Inc. effective December 16, 2020 – today announced that it has entered into a definitive agreement to acquire Tech Elevator, a proven innovator in supporting individuals and companies seeking to develop in-demand coding skills and talent. Alongside Stride’s subsidiary Galvanize, Tech Elevator will help more individuals gain access to careers in technology by expanding on the company’s student demographic profile, geographic footprint, and hiring partner portfolio.
It opened the trading session at $22.83, the shares rose to $24.23 and dropped to $22.40, the range by which the price of stock traded the whole day. The daily chart for LRN points out that the company has recorded -0.54% loss over the past six months. However, it is still -58.83% lower than its most recent low trading price.
If we look at the average trading volume of 1.42M shares, LRN reached to a volume of 1708759 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about K12 Inc. [LRN]:
Sidoti have made an estimate for K12 Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 04, 2020. While these analysts kept the previous recommendation, Barrington Research raised their target price from $30 to $60. The new note on the price target was released on August 12, 2020, representing the official price target for K12 Inc. stock. Previously, the target price had yet another raise to $34, while Sidoti analysts kept a Neutral rating on LRN stock.
The Average True Range (ATR) for K12 Inc. is set at 1.63, with the Price to Sales ratio for LRN stock in the period of the last 12 months amounting to 0.81. The Price to Book ratio for the last quarter was 1.33, with the Price to Cash per share for the same quarter was set at 7.89. Price to Free Cash Flow for LRN in the course of the last twelve months was 18.29 with Quick ratio for the last quarter at 3.30.
Trading performance analysis for LRN stock
K12 Inc. [LRN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.89. With this latest performance, LRN shares dropped by -17.94% in over the last four-week period, additionally sinking by -0.54% over the last 6 months – not to mention a rise of 21.67% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LRN stock in for the last two-week period is set at 45.83, with the RSI for the last a single of trading hit 49.16, and the three-weeks RSI is set at 41.89 for K12 Inc. [LRN]. The present Moving Average for the last 50 days of trading for this stock 27.13, while it was recorded at 22.72 for the last single week of trading, and 28.03 for the last 200 days.
K12 Inc. [LRN]: A deeper dive into fundamental analysis
K12 Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 3.40.
K12 Inc. [LRN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, K12 Inc. posted 0.52/share EPS, while the average EPS was predicted by analysts to be reported at 0.51/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LRN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for K12 Inc. go to 20.00%.
An analysis of insider ownership at K12 Inc. [LRN]
There are presently around $874 million, or 89.70% of LRN stock, in the hands of institutional investors. The top three institutional holders of LRN stocks are: VANGUARD GROUP INC with ownership of 3,440,694, which is approximately -2.535% of the company’s market cap and around 1.90% of the total institutional ownership; DIMENSIONAL FUND ADVISORS LP, holding 3,326,493 shares of the stock with an approximate value of $79.57 million in LRN stocks shares; and BLACKROCK INC., currently with $65.86 million in LRN stock with ownership of nearly -5.537% of the company’s market capitalization.
106 institutional holders increased their position in K12 Inc. [NYSE:LRN] by around 7,526,385 shares. Additionally, 83 investors decreased positions by around 8,160,571 shares, while 17 investors held positions by with 20,837,553 shares. The mentioned changes placed institutional holdings at 36,524,509 shares, according to the latest SEC report filing. LRN stock had 55 new institutional investments in for a total of 4,164,742 shares, while 15 institutional investors sold positions of 1,218,023 shares during the same period.