Green Dot (NYSE:GDOT) Share Price Breaks Above 200 Day Moving Average – Here’s What Happened

Green Dot Corporation (NYSE:GDOT)’s stock price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $12.52 and traded as high as $12.89. Green Dot shares last traded at $12.75, with a volume of 481,384 shares changing hands.

Wall Street Analysts Forecast Growth

GDOT has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Green Dot in a research report on Thursday, October 15th. Zacks Research raised Green Dot from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 13th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.12.

Green Dot Stock Down 1.6%

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 has a market capitalization of $697.67 million, a PE ratio of -24.00 and a beta of 0.93. The business’s 50 day simple moving average is $12.68 and its 200 day simple moving average is $12.52.

Green Dot (NYSE:GDOT) last announced its 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 negative net margin of 1.14% and a positive return on equity of 6.92%. The firm had revenue of $591.29 million for the quarter, compared to analyst estimates of $541.16 million. As a group, analysts forecast that Green Dot Corporation will post 1.32 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Abel Hall LLC acquired a new position in shares of Green Dot during the third quarter worth approximately $125,000. Engineers Gate Manager LP lifted its holdings in shares of Green Dot by 81.3% during the 2nd quarter. Engineers Gate Manager LP now owns 77,256 shares of the financial services provider’s stock worth $1,044,000 after acquiring an additional 34,637 shares during the period. Newtyn Management LLC boosted its holdings in Green Dot by 743.7% during the second quarter. Newtyn Management LLC now owns 1,203,203 shares of the financial services provider’s stock valued at $16,255,000 after purchasing an additional 1,060,598 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Green Dot in the 2nd quarter worth approximately $26,000. Finally, Walmart Inc. acquired a new position in Green Dot during the second quarter worth $13,172,000. Institutional investors own 92.56% of the company’s stock.

Green Dot Company Profile

Green Dot Corporation is a financial technology and banking company that provides digital banking, prepaid debit, and payment services in the United States. Through its consumer brands, including Green Dot and GO2bank, the company offers checking accounts, debit cards, direct deposit, mobile banking, bill payment, money transfer, cash deposit, and other everyday financial services.

Green Dot also provides banking-as-a-service and embedded-finance solutions for businesses, financial institutions, and technology companies.