Green Dot (NYSE:GDOT) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Green Dot Corporation (NYSE:GDOT - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.96 and traded as high as $10.96. Green Dot shares last traded at $10.60, with a volume of 422,593 shares.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Northland Securities upgraded shares of Green Dot from a "market perform" rating to an "outperform" rating and set a $12.00 price objective on the stock in a report on Wednesday, April 9th. Keefe, Bruyette & Woods upped their price objective on shares of Green Dot from $11.00 to $12.00 and gave the stock a "market perform" rating in a report on Friday. Barclays increased their target price on shares of Green Dot from $7.00 to $10.00 and gave the company an "underweight" rating in a report on Monday, May 12th. Northland Capmk upgraded shares of Green Dot from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 9th. Finally, Wall Street Zen upgraded shares of Green Dot from a "hold" rating to a "buy" rating in a report on Friday, June 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $12.00.

Green Dot Stock Performance

The company's fifty day moving average price is $9.94 and its 200 day moving average price is $8.94. The company has a market cap of $588.15 million, a PE ratio of -82.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.58 and a quick ratio of 0.58.

Green Dot (NYSE:GDOT - Get Free Report) last announced its earnings results on Thursday, May 8th. The financial services provider reported $1.06 EPS for the quarter, beating the consensus estimate of $0.70 by $0.36. The company had revenue of $555.96 million during the quarter, compared to the consensus estimate of $503.20 million. Green Dot had a negative net margin of 0.31% and a positive return on equity of 8.82%. The firm's revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 earnings per share. On average, equities research analysts predict that Green Dot Corporation will post 0.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Christian Devin Ruppel sold 10,189 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $11.00, for a total transaction of $112,079.00. Following the completion of the transaction, the insider owned 253,139 shares in the company, valued at approximately $2,784,529. This represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Green Dot

Several institutional investors have recently added to or reduced their stakes in GDOT. Brooklyn Investment Group boosted its position in Green Dot by 350,400.0% during the first quarter. Brooklyn Investment Group now owns 3,505 shares of the financial services provider's stock worth $30,000 after purchasing an additional 3,504 shares during the period. Meeder Asset Management Inc. bought a new position in Green Dot during the fourth quarter worth about $44,000. GAMMA Investing LLC boosted its position in Green Dot by 152.0% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the financial services provider's stock worth $48,000 after purchasing an additional 3,416 shares during the period. KLP Kapitalforvaltning AS bought a new position in Green Dot during the fourth quarter worth about $84,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Green Dot during the first quarter worth about $96,000. Institutional investors own 92.56% of the company's stock.

Green Dot Company Profile

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.