Short Interest in GoPro, Inc. (NASDAQ:GPRO) Decreases By 6.8%

GoPro, Inc. (NASDAQ:GPRO) saw a significant drop in short interest in 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. Currently, 5.1% of the company’s stock are short sold. Based on an average trading volume of 1,340,000 shares, the short-interest ratio is presently 4.7 days.

Analyst Ratings Changes

A number of research firms have recently weighed in on GPRO. StockNews.com raised GoPro from a “sell” rating to a “hold” rating in a research report on Friday, September 13th. Wedbush decreased their price target on GoPro from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Wednesday, August 7th.

GoPro Stock Performance

GoPro stock traded up $0.03 during mid-day trading on Wednesday, reaching $1.29. 661,281 shares of the company traded hands, compared to its average volume of 1,726,289. The firm’s fifty day moving average is $1.29 and its two-hundred day moving average is $1.50. The company has a market capitalization of $193.37 million, a price-to-earnings ratio of -0.54 and a beta of 1.55. GoPro has a fifty-two week low of $1.16 and a fifty-two week high of $3.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.47 and a quick ratio of 1.07.

GoPro (NASDAQ:GPRO) last released its earnings results on Tuesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the firm earned ($0.13) EPS. The firm’s revenue was down 22.7% on a year-over-year basis. On average, equities research analysts expect that GoPro will post -0.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GoPro

Large investors have recently bought and sold shares of the company. Oak Thistle LLC acquired a new stake in GoPro during the 2nd quarter valued at approximately $32,000. Point72 DIFC Ltd purchased a new stake in GoPro in the second quarter valued at $33,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in 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 purchasing an additional 18,996 shares during the last quarter. RIA Advisory Group LLC acquired a new stake in GoPro during the 1st quarter worth about $44,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in shares of GoPro during the 1st quarter valued at about $54,000. Hedge funds and other institutional investors own 70.09% of the company’s stock.

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.