GoPro Inc. (GPRO) Short Interest Up 9.4% in October
GoPro Inc. (NASDAQ:GPRO) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 36,362,037 shares, an increase of 9.4% from the October 14th total of 33,230,251 shares. Currently, 38.9% of the shares of the stock are short sold. Based on an average daily volume of 5,407,750 shares, the days-to-cover ratio is currently 6.7 days.
In related news, President Anthony John Bates sold 9,704 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $14.16, for a total transaction of $137,408.64. Following the completion of the transaction, the president now owns 398,137 shares in the company, valued at $5,637,619.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward A. Gilhuly sold 700,000 shares of the company’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $15.12, for a total transaction of $10,584,000.00. The disclosure for this sale can be found here. Corporate insiders own 28.69% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC acquired a new position in shares of GoPro during the first quarter worth about $1,220,000. Sanders Morris Harris Inc. increased its stake 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. Seven Eight Capital LLC increased its stake 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. HBK Investments L P purchased a new stake in GoPro during the first quarter valued at $357,000. Finally, Essex Investment Management Co. LLC purchased a new stake in GoPro during the second quarter valued at $910,000. 28.36% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on GPRO shares. Wedbush upped their target price on shares of GoPro from $14.50 to $17.50 and gave the stock an “outperform” rating in a research report on Tuesday, September 20th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of GoPro in a research report on Monday, August 8th. Robert W. Baird reiterated a “neutral” rating and set a $10.00 price objective on shares of GoPro in a research report on Thursday, September 22nd. Raymond James Financial Inc. reiterated an “outperform” rating and set a $13.00 price objective (down previously from $16.00) on shares of GoPro in a research report on Monday. Finally, Barclays PLC reiterated an “equal weight” rating and set a $12.00 price objective on shares of GoPro in a research report on Sunday, November 6th. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $13.70.
Shares of GoPro (NASDAQ:GPRO) opened at 10.21 on Friday. The company has a 50-day moving average of $14.41 and a 200-day moving average of $12.67. GoPro has a 1-year low of $8.62 and a 1-year high of $22.95. The firm’s market capitalization is $1.44 billion.
GoPro (NASDAQ:GPRO) last announced its quarterly earnings results on Thursday, November 3rd. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by $0.25. The business earned $240.57 million during the quarter, compared to analyst estimates of $315.89 million. GoPro had a negative net margin of 31.23% and a negative return on equity of 49.53%. The business’s revenue for the quarter was down 39.9% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. Equities research analysts predict that GoPro will post ($1.42) EPS for the current fiscal year.
GoPro Company Profile
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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