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

Zovio Inc (NASDAQ:ZVOGet Rating) was the target of a large increase in short interest during 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. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 529,000 shares, the short-interest ratio is presently 0.8 days.

Shares of Zovio stock traded up $0.00 during trading hours on Friday, reaching $0.81. The company’s stock had a trading volume of 100 shares, compared to its average volume of 1,346,284. Zovio has a one year low of $0.66 and a one year high of $3.10. The company has a market capitalization of $27.66 million, a P/E ratio of -0.67 and a beta of 1.06. The stock’s fifty day simple moving average is $0.76 and its two-hundred day simple moving average is $1.05.

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. Zovio had a negative net margin of 16.26% and a negative return on equity of 57.96%. The business had revenue of $61.63 million during the quarter. As a group, equities analysts forecast that Zovio will post -0.27 earnings per share for the current year.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in Zovio during the fourth quarter valued at $29,000. Royal Bank of Canada boosted its holdings in shares of Zovio by 173.7% in the second quarter. Royal Bank of Canada now owns 31,745 shares of the company’s stock worth $83,000 after acquiring an additional 20,146 shares during the period. Morgan Stanley boosted its holdings in shares of Zovio by 1,292.2% in the first quarter. Morgan Stanley now owns 23,611 shares of the company’s stock worth $96,000 after acquiring an additional 21,915 shares during the period. Prescott Group Capital Management L.L.C. boosted its holdings in shares of Zovio by 15.0% in the first quarter. Prescott Group Capital Management L.L.C. now owns 172,776 shares of the company’s stock worth $142,000 after acquiring an additional 22,576 shares during the period. Finally, Potomac Capital Management Inc. bought a new position in shares of Zovio in the fourth quarter worth $208,000. 53.02% of the stock is currently owned by institutional investors.

About Zovio (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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