Aspen drops after Q2 revenue miss; PT cuts

Aspen

15/12/2021 13:04

** Shares of Aspen Group Inc  ASPU.O  drop 21.8% to $2.04
premarket, set for a sixth straight session of decline
    ** ASPU on Tuesday reported Q2 revenue of $18.9 mln, missing
ests of $19.9 mln, according to Refinitiv data  urn:newsml:reuters.com:*:nASA02VTC
    ** Co also forecast FY22 revenue below Wall Street estimates
    ** Brokerage Craig-Hallum cuts rating to "hold" from "buy";
lowers PT to $3.50 from $10
    ** "Aspen delivered highly disappointing Q2 results with a
miss on revenue and profitability coupled with a significant
guide down on FY22 expectations" - brokerage
    ** Separately, Canaccord Genuity also cuts PT to $7 from $13
    ** Avg. rating of 6 analysts is "buy"; median PT is $7.50 -
Refinitiv data 
    ** As of last close, stock had fallen ~77% this year


    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))