Groupon (NASDAQ:GRPN) Stock Falls 11.9% – Here’s Why

Groupon, Inc. (NASDAQ:GRPN)’s stock price fell 11.9% on Friday. The stock traded as low as $16.41 and last traded at $16.2310. 780,273 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 1,503,151 shares. The stock had previously closed at $18.43.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GRPN shares. The Goldman Sachs Group set a $16.00 target price on shares of Groupon in a research report on Wednesday, October 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Groupon in a research report on Friday, September 4th. Northland Securities set a $30.00 price target on Groupon in a research note on Monday, August 17th. Finally, Wall Street Zen raised Groupon from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $23.00.

Groupon Trading Down 11.9%

The stock has a 50 day simple moving average of $19.74 and a 200 day simple moving average of $19.50. The firm has a market capitalization of $660.03 million, a PE ratio of -5.25 and a beta of 0.20.

Groupon (NASDAQ:GRPN) last announced its quarterly earnings results on Thursday, August 6th. The coupon company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. The firm had revenue of $124.67 million for the quarter, compared to analysts’ expectations of $127.09 million. As a group, equities analysts anticipate that Groupon, Inc. will post -0.14 earnings per share for the current year.

Institutional Trading of Groupon

A number of institutional investors have recently modified their holdings of GRPN. Corient Private Wealth LP purchased a new stake in Groupon in the 2nd quarter worth approximately $514,000. AXQ Capital LP purchased a new position in shares of Groupon during the second quarter valued at approximately $543,000. Headlands Technologies LLC raised its holdings in shares of Groupon by 10.1% during the second quarter. Headlands Technologies LLC now owns 15,054 shares of the coupon company’s stock valued at $362,000 after acquiring an additional 1,382 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Groupon during the second quarter valued at approximately $1,729,000. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in Groupon by 13.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 13,129 shares of the coupon company’s stock worth $316,000 after acquiring an additional 1,553 shares during the period. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Groupon Company Profile

Groupon, Inc operates a global e-commerce marketplace that connects consumers with local businesses and merchants. Through its website and mobile applications, the company offers discounts and promotions on experiences, dining, beauty and wellness, entertainment, travel, and other products and services.

Groupon’s platform enables merchants to reach new customers, promote their offerings, and manage digital marketing campaigns. Consumers can search for deals by location, category, and activity, while participating businesses use Groupon’s marketplace and promotional tools to support customer acquisition.

Founded in 2008, Groupon initially became known for its “daily deals” model and subsequently expanded into a broader local commerce marketplace.