GoPro (NASDAQ:GPRO) Upgraded by StockNews.com to “Hold”

GoPro (NASDAQ:GPRO) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Wedbush decreased their price target on shares of GoPro from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th.

GoPro Trading Up 3.8 %

Shares of NASDAQ GPRO opened at $1.35 on Friday. The company has a market cap of $202.36 million, a PE ratio of -0.56 and a beta of 1.56. GoPro has a 52-week low of $1.16 and a 52-week high of $3.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.47. The firm’s 50 day moving average price is $1.38 and its 200-day moving average price is $1.65.

GoPro (NASDAQ:GPRO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.01. The company had revenue of $186.22 million during the quarter, compared to analyst estimates of $170.02 million. GoPro had a negative return on equity of 24.57% and a negative net margin of 42.19%. GoPro’s revenue was down 22.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.13) earnings per share. On average, equities research analysts expect that GoPro will post -0.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GPRO. Acadian Asset Management LLC raised its holdings in GoPro by 191.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,105,941 shares of the company’s stock worth $4,694,000 after purchasing an additional 1,384,308 shares during the period. CenterBook Partners LP purchased a new position in GoPro in the 4th quarter valued at approximately $267,000. SG Americas Securities LLC boosted its stake in shares of GoPro by 69.8% in the 1st quarter. SG Americas Securities LLC now owns 106,154 shares of the company’s stock valued at $237,000 after buying an additional 43,645 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of GoPro during the first quarter worth $655,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in GoPro by 13.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,677,795 shares of the company’s stock valued at $5,822,000 after purchasing an additional 197,046 shares in the last quarter. 70.09% of the stock is currently owned by institutional investors and hedge funds.

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.