GoPro (NASDAQ:GPRO) Lowered to Sell Rating by Wall Street Zen

Key Points

• GoPro has been downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, indicating a pessimistic outlook for the company's stock performance.
• Other analysts, including Wedbush and Morgan Stanley, have also expressed cautious views, with Wedbush lowering its target price to $0.75.
• Despite the downgrades, institutional investors have been increasingly investing in GoPro, with AQR Capital Management growing its holdings by 957.3% in the last quarter.

Wall Street Zen cut shares of GoPro (NASDAQ:GPRO - Free Report) from a hold rating to a sell rating in a research note published on Saturday.

A number of other brokerages also recently issued reports on GPRO. Morgan Stanley reissued an "underweight" rating on shares of GoPro in a research note on Tuesday, August 12th. Wedbush reissued a "neutral" rating and set a $0.75 target price (down from $1.00) on shares of GoPro in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, GoPro has an average rating of "Reduce" and a consensus price target of $0.75.

GoPro Price Performance

GPRO stock traded down $0.0950 during trading on Friday, reaching $1.3250. 4,466,592 shares of the company were exchanged, compared to its average volume of 6,211,419. The company has a market capitalization of $208.75 million, a price-to-earnings ratio of -1.92 and a beta of 1.40. GoPro has a twelve month low of $0.3980 and a twelve month high of $2.37. The company has a 50-day moving average of $1.03 and a two-hundred day moving average of $0.80.

Hedge Funds Weigh In On GoPro

Several institutional investors and hedge funds have recently bought and sold shares of GPRO. Captrust Financial Advisors boosted its holdings in GoPro by 89.6% in the 2nd quarter. Captrust Financial Advisors now owns 33,041 shares of the company's stock worth $25,000 after buying an additional 15,618 shares during the period. Militia Capital Partners LP purchased a new stake in shares of GoPro in the second quarter worth $379,000. BNP Paribas Financial Markets increased its holdings in shares of GoPro by 323.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 36,497 shares of the company's stock worth $28,000 after buying an additional 27,887 shares during the last quarter. Brevan Howard Capital Management LP bought a new position in shares of GoPro in the 2nd quarter worth $187,000. Finally, Banco BTG Pactual S.A. bought a new position in shares of GoPro in the 2nd quarter worth $27,000. 70.09% of the stock is 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.