GoPro, Inc. (GPRO) Sees Large Decrease in Short Interest
GoPro, Inc. (NASDAQ:GPRO) was the recipient of a large decrease in short interest in August. As of August 15th, there was short interest totalling 25,795,838 shares, a decrease of 5.7% from the July 31st total of 27,369,024 shares. Approximately 24.4% of the company’s stock are short sold. Based on an average trading volume of 8,119,435 shares, the days-to-cover ratio is presently 3.2 days.
A number of equities analysts recently weighed in on GPRO shares. Wedbush reissued a “hold” rating and issued a $9.00 price target on shares of GoPro in a report on Thursday, June 1st. Vetr downgraded shares of GoPro from a “strong-buy” rating to a “buy” rating and set a $8.98 price target on the stock. in a report on Wednesday, June 28th. Morgan Stanley raised shares of GoPro from an “underweight” rating to an “equal weight” rating and set a $7.50 price objective on the stock in a report on Monday, July 31st. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) raised shares of GoPro from a “sell” rating to a “neutral” rating and upped their price objective for the company from $6.75 to $10.00 in a report on Tuesday, August 15th. Finally, BidaskClub downgraded shares of GoPro from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $8.53.
GoPro (NASDAQ GPRO) opened at 9.13 on Friday. GoPro has a one year low of $7.14 and a one year high of $17.68. The company’s market capitalization is $1.24 billion. The stock’s 50 day moving average price is $8.75 and its 200 day moving average price is $8.59.
GoPro (NASDAQ:GPRO) last posted its earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.20. GoPro had a negative return on equity of 41.52% and a negative net margin of 27.88%. The business had revenue of $296.52 million during the quarter, compared to the consensus estimate of $268.94 million. During the same period in the previous year, the business earned ($0.52) EPS. The business’s quarterly revenue was up 34.3% on a year-over-year basis. Equities analysts anticipate that GoPro will post ($0.05) 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 on Tuesday, June 6th. The shares were sold at an average price of $8.49, for a total value of $348,735.24. Following the completion of the sale, the director now owns 142,011 shares in the company, valued at approximately $1,205,673.39. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 28.69% of the company’s stock.
Several hedge funds have recently bought and sold shares of GPRO. Nomura Holdings Inc. increased its stake in GoPro by 5.4% in the second quarter. Nomura Holdings Inc. now owns 13,769 shares of the company’s stock valued at $112,000 after buying an additional 704 shares during the last quarter. State Street Corp increased its stake in GoPro by 6.7% in the second quarter. State Street Corp now owns 1,914,069 shares of the company’s stock valued at $15,563,000 after buying an additional 120,250 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in GoPro during the second quarter valued at $589,000. ETF Managers Group LLC purchased a new stake in GoPro during the second quarter valued at $652,000. Finally, UBS Oconnor LLC purchased a new stake in GoPro during the second quarter valued at $528,000. 25.12% of the stock is owned by institutional investors and hedge funds.
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GoPro Company Profile
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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