GoPro (NASDAQ:GPRO) Rating Increased to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded GoPro from “strong sell” to “sell,” while Weiss Ratings also maintained a sell-equivalent rating; MarketBeat reports a consensus “Sell” rating.
• GoPro reported a quarterly loss of $0.21 per share, missing estimates by $0.23, while revenue of $104.93 million fell well short of the $151.47 million consensus forecast.
• Shares opened at $0.63, near the company’s 52-week low of $0.57, with GoPro valued at roughly $116.2 million; institutional investors own 70.09% of the stock.

GoPro (NASDAQ:GPRO - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued to investors on Sunday.

Separately, Weiss Ratings upgraded GoPro from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, July 20th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, GoPro currently has a consensus rating of "Sell".

GoPro Stock Performance

Shares of GPRO stock opened at $0.63 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.35 and a current ratio of 0.57. The firm has a market cap of $116.23 million, a price-to-earnings ratio of -0.64 and a beta of 2.42. GoPro has a 52 week low of $0.57 and a 52 week high of $3.05. The firm's 50-day simple moving average is $0.71 and its two-hundred day simple moving average is $0.88.

GoPro (NASDAQ:GPRO - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.23). GoPro had a negative net margin of 28.52% and a negative return on equity of 411.41%. The company had revenue of $104.93 million for the quarter, compared to the consensus estimate of $151.47 million. As a group, equities analysts forecast that GoPro will post -0.81 earnings per share for the current year.

Hedge Funds Weigh In On GoPro

A number of large investors have recently made changes to their positions in GPRO. GSA Capital Partners LLP raised its stake in shares of GoPro by 1,441.6% during the 4th quarter. GSA Capital Partners LLP now owns 945,410 shares of the company's stock valued at $1,333,000 after purchasing an additional 884,085 shares during the period. Renaissance Technologies LLC boosted its stake in GoPro by 137.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,625,900 shares of the company's stock worth $1,252,000 after purchasing an additional 940,300 shares during the period. UBS Group AG boosted its stake in GoPro by 168.6% in the 4th quarter. UBS Group AG now owns 3,781,516 shares of the company's stock worth $5,332,000 after purchasing an additional 2,373,901 shares during the period. Sender Co & Partners Inc. purchased a new position in GoPro during the 3rd quarter valued at about $55,000. Finally, Scientech Research LLC purchased a new position in GoPro during the 3rd quarter valued at about $36,000. 70.09% of the stock is owned by institutional investors.

About GoPro

GoPro, Inc NASDAQ: GPRO is an American technology company specializing in the design and manufacture of compact, high-definition cameras and related accessories. Headquartered in San Mateo, California, GoPro's product lineup is centered on its flagship HERO series of action cameras, which combine rugged construction, waterproof housings and advanced imaging capabilities. In addition to the HERO line, the company offers the MAX camera for 360-degree video capture, along with an array of mounts, grips and protective cases to support use in extreme sports, travel and professional video production.

Since its founding in 2002 by Nicholas Woodman, who continues to serve as chief executive officer, GoPro has expanded beyond hardware into software and cloud-based services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source