Houghton Mifflin Harcourt Co (NASDAQ:HMHC)’s share price dropped 6.1% on Friday . The stock traded as low as $5.96 and last traded at $5.97. Approximately 1,029,601 shares were traded during trading, an increase of 52% from the average daily volume of 676,660 shares. The stock had previously closed at $6.36.

HMHC has been the topic of several recent analyst reports. BidaskClub upgraded Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research report on Wednesday, June 13th. Wells Fargo & Co increased their target price on Houghton Mifflin Harcourt from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 27th. Stifel Nicolaus reiterated a “hold” rating and set a $7.50 target price (down from $8.00) on shares of Houghton Mifflin Harcourt in a research report on Friday, August 3rd. Finally, Morgan Stanley reduced their target price on Houghton Mifflin Harcourt from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Friday, August 3rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $9.94.

The company has a market capitalization of $864.88 million, a P/E ratio of -5.09 and a beta of 0.46. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.05 and a quick ratio of 0.66.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last announced its quarterly earnings results on Thursday, August 2nd. The business services provider reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.14). The firm had revenue of $375.58 million for the quarter, compared to analyst estimates of $386.20 million. Houghton Mifflin Harcourt had a negative return on equity of 14.89% and a negative net margin of 4.35%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.38) earnings per share. On average, research analysts forecast that Houghton Mifflin Harcourt Co will post -0.94 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the business. Verition Fund Management LLC acquired a new stake in Houghton Mifflin Harcourt during the second quarter worth about $113,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Houghton Mifflin Harcourt during the second quarter worth about $116,000. Bank of Montreal Can acquired a new stake in Houghton Mifflin Harcourt during the second quarter worth about $145,000. Campbell & CO Investment Adviser LLC acquired a new stake in Houghton Mifflin Harcourt during the second quarter worth about $216,000. Finally, Oppenheimer Asset Management Inc. increased its stake in Houghton Mifflin Harcourt by 60.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 33,514 shares of the business services provider’s stock worth $233,000 after acquiring an additional 12,640 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

About Houghton Mifflin Harcourt (NASDAQ:HMHC)

Houghton Mifflin Harcourt Company, a learning company, provides content, services, and technology solutions for educational institutions and consumers worldwide. The company operates in two segments, Education and Trade Publishing. The Education segment provides educational products, technology platforms, and services, including print and digital content in the form of textbooks, digital courseware, instructional aids, educational assessment, and intervention solutions for students.

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