GoPro’s (GPRO) “Neutral” Rating Reiterated at Wedbush

Wedbush reissued their neutral rating on shares of GoPro (NASDAQ:GPRO) in a report released on Wednesday morning,RTT News reports. They currently have a $1.50 price objective on the stock.

Separately, StockNews.com upgraded shares of GoPro from a “sell” rating to a “hold” rating in a research note on Friday, September 13th.

GoPro Stock Up 8.3 %

GPRO traded up $0.12 on Wednesday, hitting $1.57. 4,179,718 shares of the company’s stock traded hands, compared to its average volume of 1,025,807. The company’s 50 day simple moving average is $1.32 and its 200-day simple moving average is $1.44. The company has a quick ratio of 1.07, a current ratio of 1.47 and a debt-to-equity ratio of 0.50. GoPro has a one year low of $1.16 and a one year high of $3.80.

GoPro (NASDAQ:GPRO) last released its quarterly earnings data 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 net margin of 42.19% and a negative return on equity of 24.57%. The firm had revenue of $186.22 million for the quarter, compared to analysts’ expectations of $170.02 million. During the same quarter last year, the business posted ($0.13) earnings per share. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. On average, equities analysts expect that GoPro will post -0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in GoPro by 61.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 99,381 shares of the company’s stock valued at $222,000 after purchasing an additional 37,925 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of GoPro by 312.4% in the 1st quarter. BNP Paribas Financial Markets now owns 156,199 shares of the company’s stock valued at $348,000 after acquiring an additional 118,322 shares during the last quarter. SG Americas Securities LLC grew its position in GoPro by 69.8% in the first quarter. SG Americas Securities LLC now owns 106,154 shares of the company’s stock worth $237,000 after acquiring an additional 43,645 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in GoPro during the first quarter worth approximately $655,000. Finally, Headlands Technologies LLC raised its position in GoPro by 62.6% during the first quarter. Headlands Technologies LLC now owns 29,379 shares of the company’s stock valued at $66,000 after purchasing an additional 11,306 shares during the period. 70.09% of the stock is currently owned by institutional investors.

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.