Zovio Inc (NASDAQ:ZVO) Short Interest Up 2,124.1% in May

Zovio Inc (NASDAQ:ZVOGet Rating) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 433,700 shares, an increase of 2,124.1% from the May 15th total of 19,500 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average trading volume of 529,000 shares, the days-to-cover ratio is presently 0.8 days.

Shares of Zovio stock traded up $0.00 on Friday, hitting $0.81. The company had a trading volume of 100 shares, compared to its average volume of 1,346,284. The business has a 50-day simple moving average of $0.76 and a 200-day simple moving average of $1.05. The company has a market cap of $27.66 million, a PE ratio of -0.67 and a beta of 1.06. Zovio has a 52 week low of $0.66 and a 52 week high of $3.10.

Zovio (NASDAQ:ZVOGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported ($0.14) earnings per share for the quarter. The company had revenue of $61.63 million during the quarter. Zovio had a negative net margin of 16.26% and a negative return on equity of 57.96%. On average, equities analysts expect that Zovio will post -0.27 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royce & Associates LP lifted its position in shares of Zovio by 2.1% during the 1st quarter. Royce & Associates LP now owns 2,447,476 shares of the company’s stock worth $2,007,000 after purchasing an additional 50,000 shares during the last quarter. Heartland Advisors Inc. raised its holdings in Zovio by 3.5% in the 1st quarter. Heartland Advisors Inc. now owns 1,866,802 shares of the company’s stock valued at $1,531,000 after acquiring an additional 62,700 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in Zovio in the 1st quarter valued at approximately $966,000. HighTower Advisors LLC raised its holdings in Zovio by 64.2% in the 1st quarter. HighTower Advisors LLC now owns 454,815 shares of the company’s stock valued at $374,000 after acquiring an additional 177,800 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in Zovio by 21.7% in the 3rd quarter. BlackRock Inc. now owns 383,264 shares of the company’s stock valued at $916,000 after acquiring an additional 68,226 shares in the last quarter. 53.02% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research cut Zovio from a “buy” rating to a “hold” rating in a research note on Friday.

Zovio Company Profile (Get Rating)

Zovio Inc operates as an education technology services company in the United States. It partners with higher education institutions and employers to deliver various personalized solutions to help learners and leaders in achieving their aspirations. The company offers technology and academic services primarily relate to the educational infrastructure, including online course delivery and management, assessment, customer relations management, and other internal administrative systems; support services for curriculum and new program development, and faculty training and development; and technical support and assistance services with state compliance.

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