GoPro, Inc. (GPRO) Short Interest Update
GoPro, Inc. (NASDAQ:GPRO) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 27,369,024 shares, a decline of 4.6% from the July 14th total of 28,698,352 shares. Based on an average daily trading volume, of 1,902,871 shares, the short-interest ratio is currently 14.4 days. Currently, 25.8% of the shares of the stock are sold short.
A number of analysts recently commented on the stock. BidaskClub raised shares of GoPro from a “sell” rating to a “hold” rating in a report on Wednesday. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of GoPro in a report on Wednesday. Morgan Stanley set a $9.00 price objective on shares of GoPro and gave the stock a “hold” rating in a report on Saturday, August 5th. Vetr downgraded shares of GoPro from a “hold” rating to a “strong sell” rating and set a $8.02 price objective on the stock. in a report on Monday, August 7th. Finally, Dougherty & Co reissued a “sell” rating and set a $5.00 price objective on shares of GoPro in a report on Tuesday, April 25th. Seven investment 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’s stock. GoPro currently has an average rating of “Hold” and an average price target of $8.28.
In related news, Director Anthony John Bates sold 41,076 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $8.49, for a total transaction of $348,735.24. Following the sale, the director now owns 142,011 shares of the company’s stock, valued at $1,205,673.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 28.69% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the company. Stifel Financial Corp raised its position in shares of GoPro by 1.5% in the first quarter. Stifel Financial Corp now owns 58,530 shares of the company’s stock worth $511,000 after buying an additional 865 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of GoPro by 3.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,061 shares of the company’s stock worth $183,000 after buying an additional 695 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of GoPro by 25.9% in the first quarter. Parametric Portfolio Associates LLC now owns 49,887 shares of the company’s stock worth $434,000 after buying an additional 10,264 shares during the period. Engineers Gate Manager LP bought a new position in shares of GoPro during the first quarter worth about $118,000. Finally, First Eagle Investment Management LLC raised its position in shares of GoPro by 0.9% in the first quarter. First Eagle Investment Management LLC now owns 547,200 shares of the company’s stock worth $4,761,000 after buying an additional 5,000 shares during the period. 25.34% of the stock is currently owned by institutional investors and hedge funds.
GoPro (NASDAQ:GPRO) opened at 9.88 on Friday. The company’s 50-day moving average is $8.44 and its 200 day moving average is $8.66. The firm’s market cap is $1.34 billion. GoPro has a 12 month low of $7.14 and a 12 month high of $17.68.
GoPro (NASDAQ:GPRO) last announced its earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.20. GoPro had a negative net margin of 27.88% and a negative return on equity of 41.52%. The business had revenue of $296.52 million for the quarter, compared to analyst estimates of $268.94 million. During the same quarter in the previous year, the firm posted ($0.52) earnings per share. GoPro’s revenue was up 34.3% compared to the same quarter last year. On average, equities research analysts predict that GoPro will post ($0.05) earnings per share for the current year.
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.
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