GoPro (NASDAQ:GPRO) Receives Neutral Rating from Wedbush

Wedbush reiterated their neutral rating on shares of GoPro (NASDAQ:GPRO) in a research note published on Friday morning,RTT News reports. Wedbush currently has a $1.50 price objective on the stock.

GoPro Stock Performance

Shares of NASDAQ GPRO opened at $0.97 on Friday. GoPro has a 1 year low of $0.97 and a 1 year high of $3.15. The firm has a market cap of $150.44 million, a P/E ratio of -0.37 and a beta of 1.53. The stock has a fifty day moving average price of $1.13 and a two-hundred day moving average price of $1.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.32.

GoPro (NASDAQ:GPRO) last released its earnings results on Thursday, November 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). GoPro had a negative return on equity of 33.48% and a negative net margin of 44.37%. The firm had revenue of $258.90 million for the quarter, compared to analyst estimates of $254.92 million. During the same period in the previous year, the company earned ($0.02) earnings per share. Research analysts forecast that GoPro will post -2.65 EPS for the current fiscal year.

Institutional Investors Weigh In On GoPro

A number of institutional investors and hedge funds have recently modified their holdings of GPRO. GSA Capital Partners LLP increased its stake in GoPro by 149.4% in the 3rd quarter. GSA Capital Partners LLP now owns 2,542,398 shares of the company’s stock worth $3,458,000 after purchasing an additional 1,523,183 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of GoPro by 396.6% in the second quarter. Cubist Systematic Strategies LLC now owns 523,745 shares of the company’s stock worth $744,000 after acquiring an additional 418,288 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of GoPro by 63.4% during the third quarter. Jane Street Group LLC now owns 493,421 shares of the company’s stock valued at $671,000 after acquiring an additional 191,487 shares during the period. Sei Investments Co. purchased a new stake in shares of GoPro in the 2nd quarter valued at approximately $136,000. Finally, Prentice Capital Management LP boosted its stake in GoPro by 430.4% in the 3rd quarter. Prentice Capital Management LP now owns 75,362 shares of the company’s stock worth $102,000 after purchasing an additional 61,154 shares during the period. 70.09% of the stock is owned by institutional investors and hedge funds.

GoPro Company Profile

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.