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.

COPYRIGHT VIOLATION NOTICE: This report was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/08/27/gopro-inc-gpro-sees-large-decrease-in-short-interest.html.

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.

Receive News & Ratings for GoPro Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GoPro Inc. and related companies with MarketBeat.com's FREE daily email newsletter.