Groupon (NASDAQ:GRPN) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Groupon, Inc. (NASDAQ:GRPN) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $18.29 and traded as high as $19.68. Groupon shares last traded at $19.33, with a volume of 1,370,153 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wall Street Zen raised Groupon from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Citigroup reiterated an “outperform” rating on shares of Groupon in a research note on Tuesday, June 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Groupon in a report on Friday, September 4th. The Goldman Sachs Group reissued a “sell” rating and issued a $22.00 target price on shares of Groupon in a report on Monday, August 10th. Finally, Northland Securities set a $30.00 price target on Groupon in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Groupon has an average rating of “Reduce” and an average price target of $26.00.

Groupon Stock Down 0.8%

The firm has a market capitalization of $759.01 million, a PE ratio of -6.01 and a beta of 0.24. The business’s fifty day moving average price is $22.66 and its 200 day moving average price is $18.33.

Groupon (NASDAQ:GRPN) last released its quarterly earnings results on Thursday, August 6th. The coupon company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $124.67 million for the quarter, compared to analysts’ expectations of $127.09 million. On average, analysts anticipate that Groupon, Inc. will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Groupon

A number of large investors have recently made changes to their positions in GRPN. Versant Capital Management Inc boosted its holdings in Groupon by 92.7% during the second quarter. Versant Capital Management Inc now owns 1,299 shares of the coupon company’s stock worth $31,000 after buying an additional 625 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Groupon by 135.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,185 shares of the coupon company’s stock worth $56,000 after acquiring an additional 1,835 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Groupon by 10.6% in the 1st quarter. Royal Bank of Canada now owns 7,618 shares of the coupon company’s stock worth $90,000 after acquiring an additional 731 shares during the period. Bleakley Financial Group LLC acquired a new stake in shares of Groupon in the 1st quarter worth approximately $236,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Groupon by 13.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 13,129 shares of the coupon company’s stock valued at $316,000 after purchasing an additional 1,553 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

About Groupon

Groupon, Inc (NASDAQ: GRPN) operates a digital marketplace that connects consumers with local merchants and service providers. Through its website and mobile applications, the company offers discounted deals and promotions for restaurants, entertainment, travel, beauty and wellness, automotive services, home services, and other local experiences.

Groupon’s platform is designed to help merchants attract new customers, promote available services and manage marketing offers, while giving consumers access to discounts and curated experiences in their communities.