GoPro, Inc. (NASDAQ:GPRO) Short Interest Down 6.8% in March

GoPro, Inc. (NASDAQ:GPRO) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 6,620,000 shares, a drop of 6.8% from the March 15th total of 7,100,000 shares. Approximately 5.5% of the shares of the stock are sold short. Based on an average daily volume of 1,840,000 shares, the days-to-cover ratio is currently 3.6 days.

Analyst Ratings Changes

Separately, Wedbush reissued a “neutral” rating and issued a $2.00 price target on shares of GoPro in a report on Wednesday, March 27th.

Hedge Funds Weigh In On GoPro

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of GoPro by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 12,305,200 shares of the company’s stock valued at $42,699,000 after acquiring an additional 55,859 shares during the last quarter. BlackRock Inc. increased its position in shares of GoPro by 1.1% during the 3rd quarter. BlackRock Inc. now owns 11,806,752 shares of the company’s stock valued at $58,208,000 after purchasing an additional 132,213 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in GoPro by 25.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,971,000 shares of the company’s stock valued at $35,063,000 after buying an additional 1,415,157 shares during the period. FMR LLC boosted its stake in GoPro by 27.4% during the second quarter. FMR LLC now owns 5,278,262 shares of the company’s stock worth $29,189,000 after buying an additional 1,133,819 shares during the period. Finally, Greenlight Capital Inc. increased its position in GoPro by 6.3% during the fourth quarter. Greenlight Capital Inc. now owns 2,823,100 shares of the company’s stock valued at $9,796,000 after acquiring an additional 166,640 shares during the last quarter. Institutional investors own 70.09% of the company’s stock.

GoPro Stock Down 0.6 %

GPRO opened at $1.76 on Thursday. The company has a market capitalization of $263.82 million, a PE ratio of -5.18 and a beta of 1.43. The firm has a 50-day simple moving average of $2.22 and a two-hundred day simple moving average of $2.85. The company has a quick ratio of 1.35, a current ratio of 1.73 and a debt-to-equity ratio of 0.17. GoPro has a 52 week low of $1.68 and a 52 week high of $4.73.

GoPro (NASDAQ:GPRO) last released its quarterly earnings results on Wednesday, February 7th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. The business had revenue of $295.42 million during the quarter, compared to analysts’ expectations of $326.99 million. GoPro had a negative return on equity of 11.66% and a negative net margin of 5.29%. Analysts forecast that GoPro will post -0.38 earnings per share for the current fiscal year.

About GoPro

GoPro, Inc develops and sells cameras, mountable and wearable accessories, and subscription services and software in the Americas, Europe, the Middle East, Africa, the Asia and Pacific region, and internationally. The company provides cloud connected HERO12 Black, HERO11 Black, HERO11 Black Mini, HERO10 Black, HERO10 Black Bones, and HERO9 Black waterproof cameras; MAX, a 360-degree waterproof camera; Premium and Premium+ subscription services, which include full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription that offers access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik desktop and mobile apps that enable users to get their favorite photos and videos with footage from any phone or camera.