Groupon (NASDAQ:GRPN) Shares Gap Up – Here’s Why

Groupon, Inc. (NASDAQ:GRPN)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $9.77, but opened at $12.25. Groupon shares last traded at $13.14, with a volume of 2,466,129 shares trading hands.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group dropped their price target on Groupon from $11.00 to $8.00 and set a “sell” rating for the company in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Groupon Stock Up 6.3 %

The firm’s fifty day moving average price is $11.45 and its 200-day moving average price is $11.07. The company has a debt-to-equity ratio of 5.66, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $590.95 million, a price-to-earnings ratio of 29.14 and a beta of 1.41.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Centiva Capital LP acquired a new position in shares of Groupon during the 3rd quarter valued at $442,000. State Street Corp boosted its holdings in Groupon by 19.2% in the third quarter. State Street Corp now owns 710,942 shares of the coupon company’s stock worth $6,953,000 after acquiring an additional 114,400 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Groupon in the 3rd quarter worth $814,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Groupon during the fourth quarter worth $2,178,000. Finally, Stifel Financial Corp bought a new stake in shares of Groupon during the third quarter worth about $201,000. 90.05% of the stock is owned by institutional investors.

About Groupon

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. It serves customers through its mobile applications and websites.