Aspen Group Inc. (NASDAQ: ASPU), a technology-driven education company, experienced a dramatic fall on Tuesday. Shares had decreased by an astounding 18.72% by late afternoon to $15 against an overall downward trend on the NASDAQ. This development further solidifies Aspen Group's bearish performance.
Aspen Group's Performance
At market close, Aspen shares were down 83.73% from their 52-week high of $110 and signaling further weakness for this education-based technology firm.
About Aspen Group
Aspen Group specializes in offering online degree programs from various disciplines through Aspen University and United States University, serving customers throughout the US. As of April 2022, they had reported 13,334 degree-seeking students.
Aspen Group's Financials
Aspen Group has seen limited profitability this past year, with earnings per share (EPS) totaling just $0.36 and its return on equity standing at a negative 24.26%; these metrics indicate financial difficulties within their organization.
Revenue Decline for Aspen Group
Aspen Group also experienced a decline in year-on-year quarterly revenue growth - dropping 17.8% year over year to $70.92M over the last twelve months.
Stock Indicators for Aspen Group
Stock indicators suggest Aspen Group may currently be oversold, according to its stochastic oscillator. This indicates that its price or volume has fallen below expectations and could potentially signal a trend reversal - however given Aspen Group is significantly under both its 50-day moving average ($16) and 200-day moving average ($22), any quick recovery seems unlikely.
Investor Caution
Overall, investors of Aspen Group should exercise extreme caution and carefully analyze the risks involved with its current predicament. Market trends, financial indicators and overall business performance cast a dim picture for Aspen Group going forward.
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