Green Dot (NYSE:GDOT) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Green Dot shares moved above their 200-day moving average, reaching $13.24 before trading near $13.05, compared with the $12.69 long-term average.
• Analyst sentiment remains cautious: the stock carries a consensus “Reduce” rating, with recent downgrades to “Strong Sell” and an average price target of $16.12.
• Green Dot’s latest quarter showed mixed results, with revenue of $591.29 million exceeding expectations but adjusted earnings per share of $0.26 falling short of the $0.37 consensus estimate.

Shares of Green Dot Corporation (NYSE:GDOT - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.69 and traded as high as $13.24. Green Dot shares last traded at $13.0480, with a volume of 238,917 shares.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Green Dot in a report on Friday, July 17th. Zacks Research cut Green Dot from a "hold" rating to a "strong sell" rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $16.12.

Green Dot Price Performance

The firm has a market cap of $743.61 million, a price-to-earnings ratio of -25.58 and a beta of 0.82. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.07. The company's 50-day moving average price is $13.31 and its 200-day moving average price is $12.69.

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

Institutional Trading of Green Dot

Large investors have recently modified their holdings of the stock. Engineers Gate Manager LP boosted its holdings in Green Dot by 81.3% in the second quarter. Engineers Gate Manager LP now owns 77,256 shares of the financial services provider's stock valued at $1,044,000 after purchasing an additional 34,637 shares during the period. Newtyn Management LLC grew its stake in Green Dot by 743.7% during the 2nd quarter. Newtyn Management LLC now owns 1,203,203 shares of the financial services provider's stock worth $16,255,000 after purchasing an additional 1,060,598 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Green Dot during the 2nd quarter worth about $26,000. Walmart Inc. purchased a new stake in Green Dot during the 2nd quarter worth about $13,172,000. Finally, Rangeley Capital LLC acquired a new stake in Green Dot in the 1st quarter valued at about $1,826,000. Hedge funds and other 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.