Stock Traders Purchase Large Volume of Put Options on GoPro (NASDAQ:GPRO)

GoPro, Inc. (NASDAQ:GPRO) saw some unusual options trading activity on Tuesday. Investors purchased 7,133 put options on the stock. This is an increase of approximately 425% compared to the average volume of 1,359 put options.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GPRO. Tower Research Capital LLC TRC increased its position in shares of GoPro by 153.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 23,905 shares of the company’s stock worth $26,000 after acquiring an additional 14,485 shares in the last quarter. R Squared Ltd purchased a new position in shares of GoPro in the fourth quarter worth approximately $27,000. RIA Advisory Group LLC purchased a new position in shares of GoPro in the third quarter worth approximately $27,000. Picton Mahoney Asset Management increased its position in shares of GoPro by 77.4% in the fourth quarter. Picton Mahoney Asset Management now owns 27,908 shares of the company’s stock worth $30,000 after acquiring an additional 12,172 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of GoPro in the third quarter worth approximately $35,000. 70.09% of the stock is owned by hedge funds and other institutional investors.

GoPro Price Performance

GoPro stock opened at $0.72 on Thursday. The firm has a market capitalization of $111.16 million, a P/E ratio of -0.25 and a beta of 1.62. The firm has a fifty day moving average of $0.92 and a 200-day moving average of $1.15. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. GoPro has a 52-week low of $0.64 and a 52-week high of $2.40.

GoPro (NASDAQ:GPRO) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12). GoPro had a negative net margin of 53.94% and a negative return on equity of 55.77%. As a group, analysts predict that GoPro will post -0.25 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on GPRO. StockNews.com raised shares of GoPro from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Wedbush reaffirmed a “neutral” rating and set a $1.50 price target on shares of GoPro in a research report on Friday, January 31st.

GoPro Company Profile

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.