Groupon, Inc. (NASDAQ:GRPN – Get Free Report) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 5,140,000 shares, a decrease of 6.0% from the October 15th total of 5,470,000 shares. Based on an average daily volume of 1,460,000 shares, the days-to-cover ratio is presently 3.5 days. Approximately 31.8% of the shares of the stock are short sold.
Groupon Stock Up 2.0 %
NASDAQ:GRPN traded up $0.19 during trading hours on Friday, hitting $9.54. 880,361 shares of the stock were exchanged, compared to its average volume of 1,300,466. The company has a market capitalization of $303.69 million, a P/E ratio of -2.12 and a beta of 1.60. The company’s 50 day moving average is $12.40 and its two-hundred day moving average is $8.84. Groupon has a twelve month low of $2.89 and a twelve month high of $16.25.
Wall Street Analyst Weigh In
A number of research firms have commented on GRPN. Credit Suisse Group boosted their price target on shares of Groupon from $3.40 to $8.00 and gave the company a “neutral” rating in a research report on Friday, August 11th. StockNews.com upgraded Groupon from a “sell” rating to a “hold” rating in a research report on Saturday. The Goldman Sachs Group lifted their price objective on Groupon from $4.00 to $5.00 and gave the company a “sell” rating in a research report on Tuesday. Roth Mkm began coverage on Groupon in a report on Thursday, October 12th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Barclays lifted their price target on Groupon from $4.00 to $6.00 and gave the company an “underweight” rating in a report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Groupon has an average rating of “Hold” and a consensus target price of $12.25.
Institutional Investors Weigh In On Groupon
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC increased its position in Groupon by 2.1% in the second quarter. Barclays PLC now owns 58,996 shares of the coupon company’s stock worth $349,000 after purchasing an additional 1,206 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Groupon by 7.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,335 shares of the coupon company’s stock worth $217,000 after buying an additional 1,800 shares during the period. FMR LLC raised its stake in shares of Groupon by 75.1% during the third quarter. FMR LLC now owns 4,391 shares of the coupon company’s stock worth $67,000 after buying an additional 1,883 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Groupon in the first quarter valued at approximately $50,000. Finally, Quantbot Technologies LP bought a new position in Groupon in the first quarter valued at approximately $55,000. Institutional investors own 90.05% of the company’s stock.
Groupon Company Profile
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; and first-party goods inventory. It serves customers through its mobile applications and websites.
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