Short Interest in GoPro Inc. (GPRO) Increases By 4.4%
GoPro Inc. (NASDAQ:GPRO) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 34,160,863 shares, a growth of 4.4% from the September 15th total of 32,732,686 shares. Approximately 36.5% of the company’s stock are sold short. Based on an average trading volume of 15,246,497 shares, the short-interest ratio is presently 2.2 days.
GoPro (NASDAQ:GPRO) opened at 14.41 on Wednesday. The stock has a 50 day moving average price of $15.08 and a 200 day moving average price of $12.67. The stock’s market capitalization is $2.01 billion. GoPro has a 12 month low of $8.62 and a 12 month high of $30.67.
GoPro (NASDAQ:GPRO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.06. The business had revenue of $220.80 million for the quarter, compared to the consensus estimate of $194.37 million. GoPro had a negative return on equity of 27.52% and a negative net margin of 17.31%. The business’s quarterly revenue was down 47.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 earnings per share. Equities analysts predict that GoPro will post ($1.07) EPS for the current fiscal year.
GPRO has been the subject of several research reports. Oppenheimer Holdings Inc. reissued a “market perform” rating and issued a $43.00 target price on shares of GoPro in a research report on Friday, July 15th. Dougherty & Co reissued a “hold” rating on shares of GoPro in a research report on Monday, July 18th. JPMorgan Chase & Co. set a $17.00 price objective on GoPro and gave the company a “buy” rating in a research report on Thursday, July 21st. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $11.00 price objective on shares of GoPro in a research report on Tuesday, July 26th. Finally, Wedbush raised their price objective on GoPro from $13.00 to $14.50 and gave the company an “outperform” rating in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. GoPro currently has an average rating of “Hold” and an average target price of $15.89.
In other news, President Anthony John Bates sold 9,704 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $14.16, for a total value of $137,408.64. Following the completion of the transaction, the president now owns 398,137 shares of the company’s stock, valued at approximately $5,637,619.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward A. Gilhuly sold 700,000 shares of the stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $15.12, for a total value of $10,584,000.00. The disclosure for this sale can be found here. 28.69% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. Essex Investment Management Co. LLC purchased a new position in GoPro during the second quarter valued at about $910,000. Sanders Morris Harris Inc. increased its position in GoPro by 71.4% in the second quarter. Sanders Morris Harris Inc. now owns 40,800 shares of the company’s stock valued at $441,000 after buying an additional 17,000 shares during the last quarter. Americafirst Capital Management LLC purchased a new position in GoPro during the second quarter valued at about $556,000. BlueMountain Capital Management LLC purchased a new position in GoPro during the first quarter valued at about $117,000. Finally, Seven Eight Capital LLC increased its position in GoPro by 3,754.5% in the first quarter. Seven Eight Capital LLC now owns 11,101 shares of the company’s stock valued at $133,000 after buying an additional 10,813 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.
GoPro, Inc produces mountable and wearable cameras (capture devices) and accessories. The Company’s products are sold globally through retailers, wholesale distributors and on its Website. It enables people to capture compelling, immersive photo and video content of themselves in their day to day life, as well as participating in their favorite activities.
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