GoPro Inc (GPRO) Short Interest Update
GoPro Inc (NASDAQ:GPRO) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 25,544,346 shares, a decrease of 7.8% from the February 15th total of 27,710,690 shares. Based on an average trading volume of 2,393,871 shares, the days-to-cover ratio is currently 10.7 days. Approximately 31.5% of the shares of the stock are short sold.
In other news, CFO Brian Mcgee sold 11,124 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $5.65, for a total transaction of $62,850.60. Following the sale, the chief financial officer now directly owns 71,958 shares of the company’s stock, valued at approximately $406,562.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Sharon S. Zezima sold 14,966 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $5.60, for a total transaction of $83,809.60. The disclosure for this sale can be found here. Corporate insiders own 28.58% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. North Star Investment Management Corp. raised its holdings in GoPro by 226.6% in the 4th quarter. North Star Investment Management Corp. now owns 16,575 shares of the company’s stock valued at $125,000 after acquiring an additional 11,500 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in GoPro in the 3rd quarter valued at about $139,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in GoPro by 235.8% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 30,621 shares of the company’s stock valued at $233,000 after acquiring an additional 21,501 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in GoPro in the 3rd quarter valued at about $266,000. Finally, MUFG Securities EMEA plc raised its holdings in GoPro by 958.1% in the 4th quarter. MUFG Securities EMEA plc now owns 35,287 shares of the company’s stock valued at $267,000 after acquiring an additional 31,952 shares during the last quarter. Institutional investors own 26.03% of the company’s stock.
GoPro (NASDAQ:GPRO) last released its quarterly earnings data on Thursday, February 1st. The company reported ($0.30) EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.75). The business had revenue of $334.80 million during the quarter, compared to analyst estimates of $340.19 million. GoPro had a negative net margin of 15.50% and a negative return on equity of 40.56%. The firm’s revenue was down 38.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 EPS. equities analysts anticipate that GoPro will post -0.62 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on the stock. BidaskClub raised shares of GoPro from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 6th. Vetr raised shares of GoPro from a “strong sell” rating to a “sell” rating and set a $5.00 target price on the stock in a research note on Monday. Citigroup reissued a “hold” rating and set a $6.50 target price (up from $5.50) on shares of GoPro in a research note on Friday, March 9th. JPMorgan Chase & Co. lowered shares of GoPro from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $9.00 to $8.00 in a research note on Friday, February 2nd. Finally, Bank of America decreased their price target on shares of GoPro from $6.50 to $5.50 and set an “underperform” rating on the stock in a research note on Friday, February 2nd. Nine analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. GoPro currently has an average rating of “Hold” and a consensus price target of $7.77.
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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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