Zovio Inc (NASDAQ:ZVO) stock observed trading -75.89% off 52-week high price. On the other end, the stock has been noted 16.54% away from low price over the last 52-weeks. The stock disclosed a move of -23.97% away from 50 day moving average and -55.25% away from 200 day moving average. Moving closer, we can see that shares have been trading -8.07% off 20-day moving average. It has market cap of $46.95M.
On Oct. 30, 2019, Zovio Inc (NASDAQ:ZVO) an education technology services company, declared its results for the three and nine months ended September 30, 2019.
This year has been a transitional year for Zovio, as we made progress on the conversion of Ashford University to a not-for-profit entity and re-positioned Zovio for the long term as an education technology services company. To date, we have made great progress on both fronts, and the management team and board of directors are continuing to evaluate a variety of options that are centered on creating the greatest value for all of our stakeholders, commented Andrew Clark, Founder, President and CEO of Zovio. In addition, our team has been focused on optimizing the profitability of our core business. While there has been a fair amount of uncertainty over the last year, Ashford has a great foundation for their future, and we are positioning Zovio to return to its historical solid profitability and cash flow in 2020.
Financial Results for the Three Months Ended September 30, 2019
Revenue for the three months ended September 30, 2019 was $104.3 million, compared with revenue of $112.8 million for the three months ended September 30, 2018.
Operating loss for the three months ended September 30, 2019 was $7.8 million, compared with operating income of $0.9 million for the three months ended September 30, 2018.
Net loss for the three months ended September 30, 2019 was $7.6 million, compared with net income of $1.7 million for the three months ended September 30, 2018.
Diluted loss per share for the three months ended September 30, 2019 was $0.25, compared with diluted income per share of $0.06 for the three months ended September 30, 2018.
The Company recognized an income tax benefit of approximately $0.1 million for the three months ended September 30, 2019, compared with an income tax benefit of $0.4 million for the three months ended September 30, 2018.
The USA based company Zovio Inc moved with change of 2.65% to $1.55 with the total traded volume of 76814 shares in recent session versus to an average volume of 96.23K. The stock was observed in the 5 days activity at 4.73%. The one month performance of stock was -24.39%. ZVO’s shares are at -59.53% for the quarter is now at -75.36% since this point in 2018. Right now the stock beta is 2.14. The average volatility for the week and month was at 10.02% and 10.30% respectively. There are 30.29M shares outstanding and 28.28M shares are floated in market.
Cheyenne Cox is a news report covering multiple Market and economy News. She is creative and highly professional writer. Cheyenne holds a degree in communication and journalism and has also a Diploma in digital marketing. She belongs to south Africa who has also lived in Europe and is currently based in the US.