Groupon Sees Unusually-High Trading Volume After Strong Earnings (GRPN)
Groupon (NASDAQ:GRPN) shares saw unusually-strong trading volume on Thursday after the company announced better than expected quarterly earnings, ARN reports. Approximately 45,462,303 shares changed hands during trading, an increase of 189% from the previous session’s volume of 15,722,196 shares.The stock last traded at $10.28 and had previously closed at $10.02.
The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. The company had revenue of $768.40 million for the quarter, compared to the consensus estimate of $718.04 million.
Several analysts have recently commented on the stock. Analysts at Wells Fargo & Co. reiterated a “positive” rating on shares of Groupon in a research note on Tuesday, January 28th. Separately, analysts at Sterne Agee reiterated an “outperform” rating on shares of Groupon in a research note on Friday, January 3rd. They now have a $11.85 price target on the stock, down previously from $12.00. Finally, analysts at Northland Securities raised their price target on shares of Groupon from $13.00 to $15.00 in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $11.02.
In other Groupon news, Director Theodore Leonsis sold 19,750 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.34, for a total value of $204,215.00. Following the transaction, the director now directly owns 793,546 shares in the company, valued at approximately $8,205,266. The transaction was disclosed in a document filed with the SEC, which is available at this link.
The stock’s 50-day moving average is $10.8 and its 200-day moving average is $10.55. The company’s market cap is $6.868 billion. Groupon also was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 36,534,047 shares, a decrease of 12.2% from the January 15th total of 41,630,963 shares. Based on an average trading volume of 12,879,754 shares, the days-to-cover ratio is currently 2.8 days. Approximately 8.6% of the shares of the stock are short sold.
Groupon, Inc offers online retail services. The Company provides daily deal on the stuff to do, eat, see and buy in more than 500 markets in 44 countries.
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