Short Interest in GoPro Inc. (GPRO) Increases By 4.4%
GoPro Inc. (NASDAQ:GPRO) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 34,160,863 shares, a growth of 4.4% from the September 15th total of 32,732,686 shares. Based on an average trading volume of 15,246,497 shares, the short-interest ratio is currently 2.2 days. Approximately 36.5% of the company’s stock are short sold.
Shares of GoPro (NASDAQ:GPRO) opened at 13.84 on Friday. The company’s 50 day moving average is $15.15 and its 200-day moving average is $12.61. GoPro has a 1-year low of $8.62 and a 1-year high of $31.33. The stock’s market capitalization is $1.93 billion.
GoPro (NASDAQ:GPRO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.06. The company earned $220.80 million during the quarter, compared to analysts’ expectations of $194.37 million. GoPro had a negative return on equity of 27.52% and a negative net margin of 17.31%. The firm’s revenue was down 47.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 EPS. Equities analysts anticipate that GoPro will post ($1.07) earnings per share for the current fiscal year.
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In related news, President Anthony John Bates sold 9,704 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $14.16, for a total transaction of $137,408.64. Following the sale, the president now owns 398,137 shares of the company’s stock, valued at $5,637,619.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward A. Gilhuly sold 700,000 shares of the business’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $15.12, for a total transaction of $10,584,000.00. The disclosure for this sale can be found here. Corporate insiders own 28.69% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Riverhead Capital Management LLC acquired a new stake in GoPro during the first quarter valued at approximately $1,220,000. Sanders Morris Harris Inc. boosted its stake in GoPro by 71.4% in the second quarter. Sanders Morris Harris Inc. now owns 40,800 shares of the company’s stock valued at $441,000 after buying an additional 17,000 shares during the period. HBK Investments L P acquired a new stake in GoPro during the first quarter valued at approximately $357,000. Seven Eight Capital LLC boosted its stake in GoPro by 3,754.5% in the first quarter. Seven Eight Capital LLC now owns 11,101 shares of the company’s stock valued at $133,000 after buying an additional 10,813 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new stake in GoPro during the second quarter valued at approximately $910,000. Institutional investors own 28.46% of the company’s stock.
GPRO has been the topic of several analyst reports. Piper Jaffray Cos. set a $9.00 target price on shares of GoPro and gave the stock a “sell” rating in a research note on Thursday. Dougherty & Co reiterated a “neutral” rating on shares of GoPro in a research note on Wednesday, October 5th. Zacks Investment Research downgraded shares of GoPro from a “buy” rating to a “hold” rating in a research note on Monday, October 3rd. Bank of America Corp. reiterated a “buy” rating and issued a $19.00 target price on shares of GoPro in a research note on Wednesday, September 28th. Finally, BlueFin Research reiterated an “add” rating on shares of GoPro in a research note on Monday, September 26th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $15.94.
GoPro, Inc produces mountable and wearable cameras (capture devices) and accessories. The Company’s products are sold globally through retailers, wholesale distributors and on its Website. It enables people to capture compelling, immersive photo and video content of themselves in their day to day life, as well as participating in their favorite activities.
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