Aspen Group (NASDAQ:ASPU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Aspen Group, Inc. is an online post-secondary education company. It offers certificate programs and associate, bachelor, master, and doctoral degree programs in a range of areas, including business and organization management, education, nursing, information technology, and general studies. Aspen Group, Inc. is headquartered in Denver, Colorado. “
Separately, ValuEngine cut Aspen Group from a “strong-buy” rating to a “buy” rating in a report on Friday, September 7th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Aspen Group currently has a consensus rating of “Buy” and an average target price of $12.13.
ASPU traded down $0.36 on Tuesday, hitting $5.66. 25,970 shares of the company were exchanged, compared to its average volume of 47,100. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.81 and a quick ratio of 2.80. Aspen Group has a 12 month low of $5.60 and a 12 month high of $9.61. The firm has a market cap of $112.12 million, a price-to-earnings ratio of -14.51 and a beta of 0.90.
Aspen Group (NASDAQ:ASPU) last posted its quarterly earnings results on Thursday, September 6th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.03). Aspen Group had a negative return on equity of 31.50% and a negative net margin of 36.53%. The company had revenue of $7.22 million for the quarter, compared to the consensus estimate of $7.19 million. As a group, sell-side analysts anticipate that Aspen Group will post -0.42 EPS for the current year.
In other Aspen Group news, Director Malcolm F. Iv Maclean acquired 4,909 shares of the company’s stock in a transaction on Friday, October 5th. The stock was acquired at an average price of $6.59 per share, for a total transaction of $32,350.31. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders acquired 11,296 shares of company stock valued at $77,411. Company insiders own 19.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its stake in shares of Aspen Group by 54.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 510,558 shares of the technology company’s stock valued at $3,471,000 after purchasing an additional 180,151 shares during the period. Unterberg Capital LLC lifted its stake in shares of Aspen Group by 35.4% in the 2nd quarter. Unterberg Capital LLC now owns 451,909 shares of the technology company’s stock valued at $3,376,000 after purchasing an additional 118,263 shares during the period. P.A.W. Capital Corp lifted its stake in shares of Aspen Group by 12.2% in the 2nd quarter. P.A.W. Capital Corp now owns 230,000 shares of the technology company’s stock valued at $1,718,000 after purchasing an additional 25,000 shares during the period. Penbrook Management LLC purchased a new position in shares of Aspen Group in the 3rd quarter valued at approximately $688,000. Finally, Granite Investment Partners LLC lifted its stake in shares of Aspen Group by 74.5% in the 2nd quarter. Granite Investment Partners LLC now owns 76,073 shares of the technology company’s stock valued at $569,000 after purchasing an additional 32,476 shares during the period. Institutional investors and hedge funds own 18.13% of the company’s stock.
About Aspen Group
Aspen Group, Inc provides online higher education services in the United States. The company offers certificate programs; and associate, bachelor's, master's, and doctoral degree programs in a range of areas, including nursing, education, business, technology, management, health sciences, and professional and extended studies.
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