Aspen Group (NASDAQ:ASPU) Share Price Crosses Above 50-Day Moving Average of $0.33

Shares of Aspen Group, Inc. (NASDAQ:ASPU – Get Rating) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $0.33 and traded as high as $0.37. Aspen Group shares last traded at $0.32, with a volume of 40,273 shares traded.

Wall Street Analyst Weigh In

Separately, B. Riley decreased their price target on shares of Aspen Group from $3.00 to $1.50 in a research note on Monday, December 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Aspen Group has an average rating of “Hold” and a consensus target price of $1.88.

Aspen Group Stock Down 5.0 %

The stock has a 50-day moving average of $0.33 and a 200-day moving average of $0.57. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a market cap of $8.13 million, a price-to-earnings ratio of -0.68 and a beta of 1.36.

Aspen Group (NASDAQ:ASPU – Get Rating) last released its earnings results on Tuesday, December 13th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. Aspen Group had a negative return on equity of 26.83% and a negative net margin of 15.98%. The company had revenue of $17.08 million for the quarter, compared to analyst estimates of $15.17 million. Sell-side analysts predict that Aspen Group, Inc. will post -0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Aspen Group

Several hedge funds have recently bought and sold shares of ASPU. Millennium Management LLC bought a new stake in shares of Aspen Group during the 2nd quarter worth approximately $31,000. Cruiser Capital Advisors LLC lifted its stake in Aspen Group by 45.2% during the first quarter. Cruiser Capital Advisors LLC now owns 57,799 shares of the technology company’s stock worth $94,000 after purchasing an additional 18,006 shares during the last quarter. B. Riley Wealth Management Inc. acquired a new stake in shares of Aspen Group in the 2nd quarter valued at $57,134,000. Renaissance Technologies LLC increased its stake in shares of Aspen Group by 470.1% in the 2nd quarter. Renaissance Technologies LLC now owns 63,277 shares of the technology company’s stock valued at $62,000 after purchasing an additional 52,177 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Aspen Group during the 3rd quarter worth $30,000. 32.85% of the stock is owned by institutional investors.

About Aspen Group

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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.