GoPro, Inc. (GPRO) Sees Large Decline in Short Interest
GoPro, Inc. (NASDAQ:GPRO) was the recipient of a significant decrease in short interest in the month of July. As of July 14th, there was short interest totalling 28,698,352 shares, a decrease of 7.2% from the June 30th total of 30,940,989 shares. Approximately 27.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,698,899 shares, the short-interest ratio is currently 16.9 days.
GPRO has been the topic of several analyst reports. J P Morgan Chase & Co set a $12.00 price target on GoPro and gave the company a “buy” rating in a research report on Sunday, April 30th. Vetr cut GoPro from a “strong-buy” rating to a “buy” rating and set a $9.71 price target on the stock. in a research report on Monday, April 10th. Wedbush reiterated a “hold” rating and set a $9.00 price target on shares of GoPro in a research report on Thursday, June 1st. Zacks Investment Research cut GoPro from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $9.00 price target on shares of GoPro in a research report on Monday, April 17th. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company. GoPro currently has an average rating of “Hold” and an average price target of $8.23.
Shares of GoPro (GPRO) opened at 8.06 on Friday. The stock’s market cap is $1.16 billion. GoPro has a 52 week low of $7.14 and a 52 week high of $17.68. The firm has a 50-day moving average price of $8.09 and a 200 day moving average price of $8.66.
GoPro (NASDAQ:GPRO) last announced its earnings results on Thursday, April 27th. The company reported ($0.53) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $0.01. The firm had revenue of $218.61 million during the quarter, compared to analysts’ expectations of $206.23 million. GoPro had a negative return on equity of 49.75% and a negative net margin of 34.63%. The company’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.63) EPS. On average, analysts forecast that GoPro will post ($0.15) EPS for the current fiscal year.
In other news, Director Anthony John Bates sold 41,076 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $8.49, for a total transaction of $348,735.24. Following the sale, the director now directly owns 142,011 shares in the company, valued at $1,205,673.39. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 28.69% of the company’s stock.
Several institutional investors have recently made changes to their positions in GPRO. Nomura Holdings Inc. bought a new position in shares of GoPro during the first quarter worth approximately $113,000. Engineers Gate Manager LP acquired a new position in GoPro during the first quarter worth about $118,000. Financial Architects Inc boosted its position in GoPro by 15.2% in the first quarter. Financial Architects Inc now owns 15,200 shares of the company’s stock worth $132,000 after buying an additional 2,000 shares during the last quarter. Concourse Capital Management LLC acquired a new position in GoPro during the first quarter worth about $155,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in GoPro by 3.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,061 shares of the company’s stock worth $183,000 after buying an additional 695 shares during the last quarter. Hedge funds and other institutional investors own 25.24% of the company’s stock.
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GoPro, Inc (GoPro) produces cameras and mountable and wearable accessories. The Company’s product offerings include HERO5, which is a line of cloud-connected cameras featuring image stabilization, telemetry, cloud connectivity and voice control; GoPro Plus, which is a cloud-based storage solution that enables subscribers to access, edit and share content; Quik, which is a mobile editing application that creates edits on a smartphone; Capture, which is a mobile application that allows users to preview and play back shots, control their GoPro cameras and share content on the fly using their smartphones; Karma, which is its compact and foldable drone and versatile stabilization solution that includes the Karma controller, and camera stabilizer, and it all fits in a custom backpack, and Karma Grip, which is a handheld, body-mountable camera stabilizer.
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