GoPro, Inc. (NASDAQ:GPRO) Short Interest Update

GoPro, Inc. (NASDAQ:GPRO) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 6,260,000 shares, a drop of 6.8% from the September 15th total of 6,720,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is currently 4.7 days. Currently, 5.1% of the shares of the company are short sold.

Hedge Funds Weigh In On GoPro

A number of large investors have recently made changes to their positions in GPRO. RIA Advisory Group LLC acquired a new position in GoPro during the first quarter worth about $44,000. Oak Thistle LLC acquired a new position in GoPro during the second quarter worth $32,000. Point72 DIFC Ltd purchased a new stake in GoPro during the second quarter worth $33,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in GoPro in the first quarter valued at $54,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of GoPro by 316.9% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 24,991 shares of the company’s stock valued at $35,000 after buying an additional 18,996 shares in the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.

GoPro Price Performance

Shares of NASDAQ:GPRO opened at $1.27 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.47 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $1.29 and a 200 day moving average price of $1.50. GoPro has a 52 week low of $1.16 and a 52 week high of $3.80. The company has a market cap of $190.37 million, a P/E ratio of -0.53 and a beta of 1.55.

GoPro (NASDAQ:GPRO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.01. GoPro had a negative return on equity of 24.57% and a negative net margin of 42.19%. The firm had revenue of $186.22 million for the quarter, compared to the consensus estimate of $170.02 million. During the same period in the previous year, the business earned ($0.13) earnings per share. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. Research analysts predict that GoPro will post -0.65 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. StockNews.com raised GoPro from a “sell” rating to a “hold” rating in a research report on Friday, September 13th. Wedbush lowered their price objective on shares of GoPro from $2.00 to $1.50 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th.

About GoPro

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.