GoPro Inc (NASDAQ:GPRO) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 26,491,000 shares, a decline of 11.8% from the June 30th total of 30,036,300 shares. Currently, 24.6% of the company’s stock are short sold. Based on an average daily trading volume, of 4,880,000 shares, the short-interest ratio is currently 5.4 days.
In related news, CEO Nicholas Woodman sold 700,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $5.34, for a total transaction of $3,738,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 2,804,189 shares of company stock worth $17,084,222. 22.34% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in GPRO. Marshall Wace LLP boosted its position in shares of GoPro by 3,479.7% in the second quarter. Marshall Wace LLP now owns 1,555,879 shares of the company’s stock valued at $8,495,000 after acquiring an additional 1,512,415 shares during the period. Spark Investment Management LLC boosted its position in shares of GoPro by 90.5% in the first quarter. Spark Investment Management LLC now owns 2,383,800 shares of the company’s stock valued at $15,494,000 after acquiring an additional 1,132,700 shares during the period. Morgan Stanley boosted its position in shares of GoPro by 158.4% in the second quarter. Morgan Stanley now owns 1,267,121 shares of the company’s stock valued at $6,920,000 after acquiring an additional 776,687 shares during the period. BlackRock Inc. boosted its position in shares of GoPro by 4.9% in the second quarter. BlackRock Inc. now owns 8,358,615 shares of the company’s stock valued at $45,639,000 after acquiring an additional 389,072 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of GoPro by 3.7% in the second quarter. Vanguard Group Inc. now owns 10,876,643 shares of the company’s stock valued at $59,386,000 after acquiring an additional 383,646 shares during the period. 47.72% of the stock is owned by institutional investors.
A number of equities analysts have commented on GPRO shares. BidaskClub cut shares of GoPro from a “sell” rating to a “strong sell” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. lifted their price objective on shares of GoPro from $7.50 to $8.00 in a research report on Friday, May 10th. ValuEngine cut shares of GoPro from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Zacks Investment Research raised shares of GoPro from a “hold” rating to a “strong-buy” rating and set a $8.50 price objective for the company in a research report on Thursday, May 16th. Finally, Morgan Stanley set a $5.00 price objective on shares of GoPro and gave the stock a “sell” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. GoPro currently has an average rating of “Hold” and an average target price of $7.29.
Shares of GoPro stock traded down $0.14 during trading on Wednesday, reaching $4.07. The company’s stock had a trading volume of 2,994,700 shares, compared to its average volume of 4,177,177. The firm’s 50-day moving average price is $5.13. The firm has a market capitalization of $628.80 million, a price-to-earnings ratio of -8.89, a PEG ratio of 3.59 and a beta of 0.49. GoPro has a 52 week low of $4.00 and a 52 week high of $7.64. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.14 and a current ratio of 1.63.
GoPro (NASDAQ:GPRO) last announced its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.04. The company had revenue of $292.43 million during the quarter, compared to analysts’ expectations of $302.29 million. GoPro had a negative net margin of 2.59% and a negative return on equity of 2.69%. GoPro’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.15) earnings per share. On average, equities analysts forecast that GoPro will post 0.12 EPS for the current year.
GoPro, Inc develops and sells cameras, drones, and mountable and wearable accessories in the United States and internationally. The company offers HERO7, a cloud-connected line of camera; 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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