Aspen Group (NASDAQ:ASPU) Coverage Initiated at Canaccord Genuity

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Research analysts at Canaccord Genuity began coverage on shares of Aspen Group (NASDAQ:ASPU) in a research note issued on Monday, MarketBeat reports. The firm set a “buy” rating and a $8.00 price target on the technology company’s stock. Canaccord Genuity’s price objective would indicate a potential upside of 46.79% from the company’s current price.

Several other research analysts also recently commented on ASPU. Roth Capital set a $10.00 price target on shares of Aspen Group and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Zacks Investment Research cut shares of Aspen Group from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Finally, ValuEngine raised shares of Aspen Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th.

ASPU stock opened at $5.45 on Monday. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 0.36. The business’s fifty day simple moving average is $4.24 and its two-hundred day simple moving average is $4.48. Aspen Group has a twelve month low of $3.58 and a twelve month high of $7.35. The firm has a market cap of $101.63 million, a price-to-earnings ratio of -10.90 and a beta of 0.63.

Aspen Group (NASDAQ:ASPU) last released its earnings results on Monday, September 9th. The technology company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The business had revenue of $10.36 million for the quarter, compared to the consensus estimate of $10.06 million. Aspen Group had a negative return on equity of 32.62% and a negative net margin of 27.27%. Research analysts expect that Aspen Group will post -0.22 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC grew its stake in Aspen Group by 15.7% in the second quarter. FNY Investment Advisers LLC now owns 18,464 shares of the technology company’s stock worth $70,000 after purchasing an additional 2,500 shares in the last quarter. Connors Investor Services Inc. raised its position in Aspen Group by 21.4% during the 2nd quarter. Connors Investor Services Inc. now owns 35,200 shares of the technology company’s stock valued at $134,000 after purchasing an additional 6,200 shares in the last quarter. Falcon Point Capital LLC raised its position in Aspen Group by 9.2% during the 2nd quarter. Falcon Point Capital LLC now owns 90,754 shares of the technology company’s stock valued at $345,000 after purchasing an additional 7,636 shares in the last quarter. Penbrook Management LLC raised its position in Aspen Group by 5.0% during the 2nd quarter. Penbrook Management LLC now owns 107,930 shares of the technology company’s stock valued at $410,000 after purchasing an additional 5,150 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Aspen Group by 13.6% in the 2nd quarter. BlackRock Inc. now owns 125,441 shares of the technology company’s stock worth $477,000 after buying an additional 14,972 shares during the period. Hedge funds and other institutional investors own 29.88% 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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