Groupon (NASDAQ:GRPN) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Groupon, Inc. (NASDAQ:GRPN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.53 and traded as high as $19.98. Groupon shares last traded at $19.64, with a volume of 2,181,213 shares changing hands.

Analyst Ratings Changes

GRPN has been the topic of a number of research reports. The Goldman Sachs Group raised their price objective on Groupon from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Friday, March 14th. Ascendiant Capital Markets boosted their price objective on shares of Groupon from $14.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.

Groupon Trading Up 5.0 %

The firm has a market cap of $781.89 million, a price-to-earnings ratio of 38.51 and a beta of 0.93. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.66. The business has a 50 day moving average price of $15.68 and a 200-day moving average price of $12.53.

Institutional Trading of Groupon

A number of hedge funds have recently made changes to their positions in the company. Blueshift Asset Management LLC acquired a new stake in Groupon during the 4th quarter valued at $732,000. State Street Corp boosted its position in Groupon by 19.2% in the 3rd quarter. State Street Corp now owns 710,942 shares of the coupon company’s stock valued at $6,953,000 after buying an additional 114,400 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Groupon during the fourth quarter valued at about $2,178,000. Stifel Financial Corp purchased a new stake in shares of Groupon during the third quarter worth about $201,000. Finally, Cruiser Capital Advisors LLC acquired a new position in shares of Groupon in the fourth quarter worth about $304,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

About Groupon

Groupon, Inc, together with its subsidiaries, operates a marketplace that connects consumers to merchants. It operates in two segments, North America and International. The company sells goods or services on behalf of third-party merchants. It serves customers through its mobile applications and websites.