Short Interest in GoPro, Inc. (NASDAQ:GPRO) Drops By 5.4%

GoPro, Inc. (NASDAQ:GPRO) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 4,350,000 shares, a drop of 5.4% from the December 31st total of 4,600,000 shares. Currently, 3.5% of the company’s stock are short sold. Based on an average daily trading volume, of 1,590,000 shares, the short-interest ratio is currently 2.7 days.

Hedge Funds Weigh In On GoPro

Large investors have recently bought and sold shares of the company. RIA Advisory Group LLC acquired a new position in shares of GoPro during the third quarter worth about $27,000. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of GoPro by 316.9% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 24,991 shares of the company’s stock worth $35,000 after buying an additional 18,996 shares in the last quarter. R Squared Ltd acquired a new stake in shares of GoPro in the 4th quarter valued at approximately $27,000. Intech Investment Management LLC purchased a new stake in shares of GoPro in the third quarter valued at approximately $35,000. Finally, The Manufacturers Life Insurance Company grew its holdings in GoPro by 19.8% during the second quarter. The Manufacturers Life Insurance Company now owns 56,609 shares of the company’s stock worth $80,000 after acquiring an additional 9,337 shares during the period. Hedge funds and other institutional investors own 70.09% of the company’s stock.

GoPro Stock Performance

NASDAQ GPRO traded down $0.08 during trading on Monday, reaching $0.89. The company’s stock had a trading volume of 4,505,118 shares, compared to its average volume of 1,586,522. GoPro has a twelve month low of $0.89 and a twelve month high of $3.03. The firm has a market cap of $137.43 million, a price-to-earnings ratio of -0.34 and a beta of 1.51. The business’s fifty day moving average price is $1.13 and its 200-day moving average price is $1.26. 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 posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $258.90 million during the quarter, compared to analysts’ expectations of $254.92 million. GoPro had a negative return on equity of 33.48% and a negative net margin of 44.37%. During the same period last year, the firm earned ($0.02) EPS. As a group, analysts anticipate that GoPro will post -2.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wedbush restated a “neutral” rating and set a $1.50 price target on shares of GoPro in a research note on Friday.

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.