Groupon Short Interest Up 13.9% in May (GRPN)
Shares of Groupon (NASDAQ:GRPN) were the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 61,903,514 shares, a growth of 13.9% from the April 30th total of 54,333,683 shares, AnalystRatings.Net reports. Approximately 13.6% of the company’s shares are sold short. Based on an average trading volume of 26,046,688 shares, the days-to-cover ratio is currently 2.4 days.
In other Groupon news, Director Bradley A. Keywell sold 500,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $6.17, for a total value of $3,085,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on GRPN shares. 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. Separately, 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. Finally, analysts at Goldman Sachs cut their price target on shares of Groupon to $8.00 in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $9.75.
Shares of Groupon (NASDAQ:GRPN) opened at 5.99 on Friday. Groupon has a 52 week low of $5.18 and a 52 week high of $12.76. The stock has a 50-day moving average of $6.60 and a 200-day moving average of $8.97. The company’s market cap is $4.086 billion.
Groupon (NASDAQ:GRPN) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. 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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