Aspen Group (NASDAQ:ASPU) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Aspen Group (NASDAQ:ASPU) released its quarterly earnings results on Monday. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.04, MarketWatch Earnings reports. Aspen Group had a negative net margin of 15.40% and a negative return on equity of 16.57%. During the same quarter in the prior year, the business posted ($0.02) EPS.

Aspen Group stock traded down $0.36 during midday trading on Wednesday, reaching $5.00. 776 shares of the stock traded hands, compared to its average volume of 239,202. The firm has a fifty day moving average price of $6.17 and a two-hundred day moving average price of $6.22. The firm has a market cap of $125.34 million, a price-to-earnings ratio of -12.47 and a beta of 0.65. Aspen Group has a fifty-two week low of $4.70 and a fifty-two week high of $12.80.

In other news, CEO Michael Mathews bought 10,000 shares of Aspen Group stock in a transaction on Thursday, July 15th. The stock was purchased at an average cost of $5.77 per share, with a total value of $57,700.00. Following the purchase, the chief executive officer now directly owns 892,946 shares of the company’s stock, valued at approximately $5,152,298.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 9.30% of the company’s stock.

An institutional investor recently bought a new position in Aspen Group stock. Citadel Advisors LLC bought a new position in Aspen Group, Inc. (NASDAQ:ASPU) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 43,075 shares of the technology company’s stock, valued at approximately $280,000. Citadel Advisors LLC owned approximately 0.17% of Aspen Group at the end of the most recent reporting period. Hedge funds and other institutional investors own 53.79% of the company’s stock.

ASPU has been the subject of several research analyst reports. Zacks Investment Research raised shares of Aspen Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 20th. Canaccord Genuity dropped their target price on shares of Aspen Group from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, July 14th. Lake Street Capital reissued a “buy” rating and issued a $13.00 target price on shares of Aspen Group in a research report on Thursday, June 17th. Craig Hallum lowered their price objective on shares of Aspen Group from $14.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Northland Securities assumed coverage on shares of Aspen Group in a research report on Wednesday, July 14th. They set a “buy” rating and a $12.00 price objective for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $12.13.

Aspen Group Company Profile

Aspen Group, Inc is a holding company, which engages in the provision of education. It offers certificate programs and associate, bachelor, master, and doctoral degree programs in areas, including business and organization management, education, nursing, information technology, and general studies. The company was founded in 1987 and is headquartered in New York, NY.

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Earnings History for Aspen Group (NASDAQ:ASPU)

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