Groupon, Inc. (NASDAQ:GRPN – Get Free Report) saw 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. Approximately 31.8% of the company’s shares are short sold. Based on an average daily volume of 1,460,000 shares, the short-interest ratio is presently 3.5 days.
Groupon Stock Performance
Groupon stock traded up $0.19 during trading hours on Friday, reaching $9.54. The stock had a trading volume of 875,100 shares, compared to its average volume of 1,300,349. The business’s 50 day moving average price is $12.45 and its 200-day moving average price is $8.79. Groupon has a 52 week low of $2.89 and a 52 week high of $16.25.
Wall Street Analyst Weigh In
GRPN has been the topic of several research analyst reports. StockNews.com downgraded Groupon from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Credit Suisse Group boosted their price objective 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. Barclays raised their target price on shares of Groupon from $4.00 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, August 10th. Roth Mkm initiated coverage on Groupon in a report on Thursday, October 12th. They issued a “buy” rating and a $30.00 price target for the company. Finally, The Goldman Sachs Group lifted their target price on Groupon from $4.00 to $5.00 and gave the company a “sell” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Groupon has a consensus rating of “Hold” and a consensus price target of $12.25.
Institutional Trading of Groupon
Several large investors have recently added to or reduced their stakes in GRPN. Dimensional Fund Advisors LP purchased a new stake in Groupon in the first quarter valued at approximately $6,673,000. Federated Hermes Inc. raised its holdings in shares of Groupon by 170.8% during the first quarter. Federated Hermes Inc. now owns 542,552 shares of the coupon company’s stock worth $10,433,000 after purchasing an additional 342,198 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Groupon during the 1st quarter worth about $1,332,000. Invesco Ltd. boosted its position in Groupon by 158.8% in the 3rd quarter. Invesco Ltd. now owns 513,075 shares of the coupon company’s stock worth $7,860,000 after purchasing an additional 314,812 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in Groupon in the 1st quarter valued at $1,123,000. Hedge funds and other 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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