Zovio (NASDAQ:ZVO) Trading Up 7.4%


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Shares of Zovio Inc (NASDAQ:ZVO) were up 7.4% during trading on Wednesday . The stock traded as high as $5.39 and last traded at $5.37. Approximately 407,662 shares changed hands during trading, an increase of 17% from the average daily volume of 347,083 shares. The stock had previously closed at $5.00.

Separately, Zacks Investment Research downgraded shares of Zovio from a “strong-buy” rating to a “hold” rating in a report on Saturday, October 3rd.

The firm’s 50-day moving average is $4.38 and its 200-day moving average is $4.11. The company has a market capitalization of $172.83 million, a P/E ratio of -6.80, a price-to-earnings-growth ratio of 1.81 and a beta of 1.73.

Zovio (NASDAQ:ZVO) last announced its earnings results on Wednesday, October 28th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.07. The company had revenue of $102.17 million during the quarter, compared to analyst estimates of $103.00 million. Zovio had a negative net margin of 5.82% and a negative return on equity of 1.19%. Sell-side analysts expect that Zovio Inc will post 0.16 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the business. Essex Investment Management Co. LLC acquired a new stake in shares of Zovio in the third quarter worth approximately $1,434,000. Acadian Asset Management LLC acquired a new position in Zovio in the third quarter valued at approximately $108,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Zovio in the third quarter valued at approximately $45,000. Assenagon Asset Management S.A. purchased a new stake in shares of Zovio in the third quarter valued at approximately $303,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of Zovio in the second quarter valued at approximately $65,000. 55.99% of the stock is currently owned by institutional investors and hedge funds.

Zovio Company Profile (NASDAQ:ZVO)

Zovio Inc operates as an education technology services company in the United States. The company's academic institutions, Ashford University offer associate's, bachelor's, master's, and doctoral degree programs in the disciplines of business, education, psychology, social sciences, and health sciences.

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