Groupon Sees Large Decline in Short Interest (GRPN)
Groupon (NASDAQ:GRPN) saw a large drop in short interest in April. As of April 30th, there was short interest totalling 54,333,683 shares, a drop of 21.3% from the April 15th total of 69,066,056 shares, Analyst Ratings Network reports. Approximately 11.9% of the company’s stock are short sold. Based on an average trading volume of 12,341,123 shares, the days-to-cover ratio is currently 4.4 days.
In other Groupon news, CEO Eric Lefkofsky unloaded 454,166 shares of Groupon stock on the open market in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $6.19, for a total value of $2,811,287.54. Following the completion of the sale, the chief executive officer now directly owns 31,455 shares in the company, valued at approximately $194,706. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
GRPN has been the subject of a number of recent research reports. Analysts at UBS AG cut their price target on shares of Groupon from $8.75 to $7.40 in a research note on Friday, May 9th. Separately, analysts at B. Riley cut their price target on shares of Groupon from $8.00 to $6.00 in a research note on Friday, May 9th. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Groupon in a research note on Wednesday, May 7th. They now have a $8.00 price target on the stock, down previously from $12.00. Three analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.63.
Groupon (NASDAQ:GRPN) opened at 6.05 on Thursday. Groupon has a 1-year low of $5.18 and a 1-year high of $12.76. The stock has a 50-day moving average of $7.13 and a 200-day moving average of $9.24. The company’s market cap is $4.127 billion.
Groupon (NASDAQ:GRPN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.01) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.03) by $0.02. The company had revenue of $757.60 million for the quarter, compared to the consensus estimate of $738.40 million. During the same quarter last year, the company posted $0.03 earnings per share. Groupon’s revenue was up 26.0% compared to the same quarter last year. On average, analysts predict that Groupon will post $0.11 earnings per share for the current fiscal year.
Groupon, Inc (NASDAQ:GRPN) is a local e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount.
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