GoPro Inc (NASDAQ:GPRO) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 33,834,549 shares, an increase of 6.8% from the September 28th total of 31,690,487 shares. Currently, 30.3% of the shares of the company are short sold. Based on an average daily trading volume, of 5,814,217 shares, the short-interest ratio is currently 5.8 days.
Shares of NASDAQ GPRO opened at $6.11 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.49 and a debt-to-equity ratio of 0.72. GoPro has a 1 year low of $4.42 and a 1 year high of $10.70.
GoPro (NASDAQ:GPRO) last announced its quarterly earnings data on Thursday, August 2nd. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.07. The firm had revenue of $282.70 million during the quarter, compared to analysts’ expectations of $270.27 million. GoPro had a negative net margin of 13.47% and a negative return on equity of 47.64%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.09) earnings per share. As a group, analysts anticipate that GoPro will post -0.54 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in GPRO. Renaissance Technologies LLC increased its stake in shares of GoPro by 478.8% in the second quarter. Renaissance Technologies LLC now owns 4,496,600 shares of the company’s stock worth $28,958,000 after purchasing an additional 3,719,700 shares in the last quarter. BlackRock Inc. increased its stake in shares of GoPro by 10.5% in the second quarter. BlackRock Inc. now owns 8,302,325 shares of the company’s stock worth $53,468,000 after purchasing an additional 785,861 shares in the last quarter. CIBC World Markets Inc. increased its stake in shares of GoPro by 477.9% in the first quarter. CIBC World Markets Inc. now owns 225,392 shares of the company’s stock worth $1,080,000 after purchasing an additional 186,392 shares in the last quarter. Millennium Management LLC increased its stake in shares of GoPro by 1,161.4% in the second quarter. Millennium Management LLC now owns 181,619 shares of the company’s stock worth $1,170,000 after purchasing an additional 167,221 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of GoPro by 18.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,059,983 shares of the company’s stock worth $6,827,000 after purchasing an additional 166,661 shares in the last quarter. 30.85% of the stock is owned by hedge funds and other institutional investors.
GPRO has been the subject of a number of research reports. Cowen reaffirmed a “hold” rating and set a $6.00 target price on shares of GoPro in a report on Friday, August 3rd. BidaskClub cut shares of GoPro from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. JPMorgan Chase & Co. set a $7.00 target price on shares of GoPro and gave the company a “hold” rating in a report on Tuesday, July 31st. Longbow Research reaffirmed a “hold” rating on shares of GoPro in a report on Friday, September 21st. Finally, UBS Group raised shares of GoPro from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 26th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $7.05.
GoPro Company Profile
GoPro, Inc develops and sells cameras, and mountable and wearable accessories in the United States and internationally. The company offers HERO5 and HERO6, which are cloud-connected line of cameras; Fusion, a waterproof spherical camera; GoPro Plus, a cloud-based storage solution that enables subscribers to access, edit, and share content; Quik, a mobile editing app, as well as desktop app for editing options for power users; GoPro App, a mobile app that allows users to preview and play back photos and videos, control GoPro cameras, and share content; and Karma Grip, a handheld or body-mountable camera stabilizer that capture zero-shake smooth video.
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