Aspen Group, Inc. (NASDAQ:ASPU) Receives Consensus Rating of “Buy” from Analysts

Aspen Group, Inc. (NASDAQ:ASPU) has been assigned a consensus rating of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $14.20.

A number of equities research analysts have recently weighed in on the company. B. Riley boosted their target price on Aspen Group from $14.00 to $15.00 in a research report on Tuesday, September 22nd. ValuEngine cut Aspen Group from a “buy” rating to a “hold” rating in a research note on Tuesday, December 1st. BidaskClub lowered Aspen Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Zacks Investment Research upgraded Aspen Group from a “sell” rating to a “hold” rating in a research report on Tuesday, November 24th.

ASPU stock opened at $11.13 on Friday. The company has a market cap of $272.13 million, a P/E ratio of -29.29 and a beta of 0.85. Aspen Group has a twelve month low of $4.65 and a twelve month high of $13.16. The business has a fifty day moving average of $11.16 and a 200-day moving average of $10.72.

Aspen Group (NASDAQ:ASPU) last released its earnings results on Monday, December 14th. The technology company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $16.97 million during the quarter, compared to the consensus estimate of $15.49 million. Aspen Group had a negative return on equity of 11.93% and a negative net margin of 14.06%. On average, analysts predict that Aspen Group will post -0.24 EPS for the current year.

In other news, insider Anne M. Mcnamara sold 9,730 shares of the business’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $11.01, for a total value of $107,127.30. Following the completion of the transaction, the insider now owns 5,000 shares of the company’s stock, valued at approximately $55,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Frank J. Cotroneo sold 7,415 shares of the business’s stock in a transaction on Thursday, December 24th. The shares were sold at an average price of $10.88, for a total transaction of $80,675.20. Following the completion of the transaction, the chief financial officer now directly owns 33,458 shares of the company’s stock, valued at approximately $364,023.04. The disclosure for this sale can be found here. Insiders sold a total of 32,230 shares of company stock valued at $349,665 in the last three months. 9.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ASPU. UBS Group AG boosted its stake in Aspen Group by 372.0% in the 2nd quarter. UBS Group AG now owns 7,477 shares of the technology company’s stock worth $68,000 after purchasing an additional 5,893 shares during the period. Russell Investments Group Ltd. boosted its stake in Aspen Group by 61.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 82,558 shares of the technology company’s stock worth $745,000 after purchasing an additional 31,367 shares during the period. New York State Common Retirement Fund acquired a new position in Aspen Group in the 2nd quarter worth $153,000. California Public Employees Retirement System acquired a new position in Aspen Group in the 2nd quarter worth $339,000. Finally, Bank of New York Mellon Corp acquired a new position in Aspen Group in the 2nd quarter worth $381,000. 45.69% of the stock is owned by hedge funds and other institutional investors.

About Aspen Group

Aspen Group, Inc, an education technology company, 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 and health sciences, business and technology, arts and sciences, education, and professional and extended studies.

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