Green Dot (NYSE:GDOT) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Green Dot Corporation (NYSE:GDOT) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.13 and traded as high as $12.91. Green Dot shares last traded at $12.7550, with a volume of 543,686 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Craig Hallum restated a “buy” rating and issued a $18.00 price objective on shares of Green Dot in a report on Tuesday, March 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Green Dot in a report on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of Green Dot from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.75.

Green Dot Stock Down 0.9%

The stock’s fifty day moving average is $12.08 and its 200 day moving average is $12.13. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $722.95 million, a P/E ratio of -9.66 and a beta of 0.86.

Green Dot (NYSE:GDOT) last posted its quarterly earnings results on Monday, May 11th. The financial services provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.24. The company had revenue of $652.03 million during the quarter, compared to analyst estimates of $597.39 million. Green Dot had a negative net margin of 3.25% and a positive return on equity of 7.56%. Research analysts predict that Green Dot Corporation will post 1.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new position in Green Dot during the 4th quarter valued at $66,000. Tower Research Capital LLC TRC increased its position in Green Dot by 23.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider’s stock valued at $70,000 after buying an additional 1,221 shares in the last quarter. OLD National Bancorp IN bought a new position in Green Dot during the 4th quarter valued at approximately $128,000. Caxton Associates LLP bought a new position in Green Dot during the 1st quarter valued at approximately $96,000. Finally, DRW Securities LLC bought a new position in Green Dot during the 4th quarter valued at approximately $154,000. 92.56% of the stock is owned by hedge funds and other institutional investors.

Green Dot Company Profile

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.