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

Key Points

• Green Dot shares moved above their 200-day moving average during Wednesday trading, with the stock reaching as high as $13.37 before last trading around $13.30. This technical move came on volume of 264,672 shares.
• Analyst sentiment remains cautious overall, with one Buy, three Hold, and one Sell rating, giving Green Dot a consensus rating of Hold. The consensus price target is $16.12.
• Green Dot recently beat earnings expectations, reporting $1.12 EPS versus the $0.88 consensus and revenue of $652.03 million versus the expected $597.39 million. The company also reported a positive return on equity of 7.56%.

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 $12.31 and traded as high as $13.37. Green Dot shares last traded at $13.2980, with a volume of 264,672 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GDOT. Weiss Ratings restated a "sell (d-)" rating on shares of Green Dot in a research note on Friday, July 17th. Zacks Research downgraded shares of Green Dot from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Green Dot has a consensus rating of "Hold" and a consensus price target of $16.12.

Green Dot Trading Down 0.6%

The firm has a fifty day simple moving average of $13.06 and a two-hundred day simple moving average of $12.31. The firm has a market capitalization of $753.73 million, a P/E ratio of -10.07 and a beta of 0.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.50 and a quick ratio of 0.50.

Green Dot (NYSE:GDOT - Get Free Report) last released its earnings results on Monday, May 11th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.24. Green Dot had a positive return on equity of 7.56% and a negative net margin of 3.25%.The business had revenue of $652.03 million during the quarter, compared to the consensus estimate of $597.39 million. On average, equities research analysts anticipate that Green Dot Corporation will post 1.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Green Dot

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Securities Group LLC bought a new stake in shares of Green Dot in the fourth quarter valued at approximately $66,000. Tower Research Capital LLC TRC grew its stake in Green Dot by 23.1% in 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. Caxton Associates LLP purchased a new position in Green Dot in the 1st quarter valued at approximately $96,000. OLD National Bancorp IN bought a new stake in Green Dot during the 4th quarter valued at $128,000. Finally, DRW Securities LLC purchased a new stake in shares of Green Dot during the fourth quarter worth $154,000. Institutional investors own 92.56% of the company's stock.

About Green Dot

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.

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