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

Key Points

• Green Dot shares crossed above their 200-day moving average, reaching $13.27 before last trading at $13.18, compared with the $12.62 average.
• Analyst sentiment remains cautious: MarketBeat reports a consensus “Reduce” rating and a $16.12 target price, while recent coverage included downgrades to “Strong Sell” and “Sell.”
• Green Dot’s latest quarterly results were mixed, with revenue of $591.29 million exceeding estimates but adjusted earnings of $0.26 per share missing the $0.37 consensus forecast; institutional investors own 92.56% of the stock.

Green Dot Corporation (NYSE:GDOT - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.62 and traded as high as $13.27. Green Dot shares last traded at $13.1820, with a volume of 337,525 shares traded.

Wall Street Analysts Forecast Growth

GDOT has been the topic of a number of research analyst reports. Zacks Research lowered shares of Green Dot from a "hold" rating to a "strong sell" rating in a research note on Friday, August 21st. Weiss Ratings restated a "sell (d-)" rating on shares of Green Dot in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $16.12.

Green Dot Trading Down 1.0%

The firm has a market capitalization of $751.24 million, a price-to-earnings ratio of -25.85 and a beta of 0.82. The firm's 50 day moving average is $13.33 and its 200 day moving average is $12.62. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.07.

Green Dot (NYSE:GDOT - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). Green Dot had a positive return on equity of 6.92% and a negative net margin of 1.14%.The business had revenue of $591.29 million during the quarter, compared to analyst estimates of $541.16 million. Equities analysts forecast that Green Dot Corporation will post 1.32 earnings per share for the current year.

Institutional Trading of Green Dot

Several institutional investors and hedge funds have recently bought and sold shares of GDOT. Public Employees Retirement System of Ohio purchased a new stake in Green Dot during the second quarter valued at about $26,000. OLD National Bancorp IN increased its position in shares of Green Dot by 17.6% in the first quarter. OLD National Bancorp IN now owns 11,766 shares of the financial services provider's stock worth $132,000 after acquiring an additional 1,763 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Green Dot in the first quarter worth approximately $173,000. ProShare Advisors LLC acquired a new stake in shares of Green Dot during the fourth quarter valued at approximately $461,000. Finally, Strs Ohio lifted its position in shares of Green Dot by 10.0% in the 1st quarter. Strs Ohio now owns 55,100 shares of the financial services provider's stock valued at $618,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds 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 digital banking, payment and financial services to consumers and businesses in the United States. Through its subsidiaries, including Green Dot Bank, the company offers checking and savings accounts, prepaid debit cards, mobile banking tools, direct deposit services and money-transfer products.

Green Dot markets products under its own brands, including GO2bank, and provides program management and banking services for business partners.

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