GoPro (NASDAQ:GPRO) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• GoPro's stock price has recently surpassed its two hundred day moving average, with a recent trading high of $1.36 and a current price of $1.35.
• Brokerages have mixed sentiments, with Wedbush lowering its price target to $0.75 while Wall Street Zen upgraded GoPro from "sell" to "hold."
• GoPro reported a revenue of $134.3 million for the last quarter, exceeding analyst estimates by approximately $10 million.

GoPro, Inc. (NASDAQ:GPRO - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.80 and traded as high as $1.36. GoPro shares last traded at $1.35, with a volume of 6,490,750 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GPRO. Wedbush reaffirmed a "neutral" rating and issued a $0.75 price target (down from $1.00) on shares of GoPro in a research note on Tuesday, May 13th. Wall Street Zen raised GoPro from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley reissued an "underweight" rating on shares of GoPro in a research note on Tuesday.

GoPro Price Performance

The stock has a 50 day simple moving average of $1.00 and a two-hundred day simple moving average of $0.80. The company has a market cap of $212.69 million, a price-to-earnings ratio of -1.96 and a beta of 1.40.

GoPro (NASDAQ:GPRO - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.01. GoPro had a negative return on equity of 49.10% and a negative net margin of 14.53%. The company had revenue of $134,308 billion for the quarter, compared to analyst estimates of $124.65 million. As a group, research analysts forecast that GoPro, Inc. will post -0.25 EPS for the current year.

Institutional Investors Weigh In On GoPro

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in GoPro by 957.3% in the first quarter. AQR Capital Management LLC now owns 3,687,711 shares of the company's stock valued at $2,445,000 after purchasing an additional 3,338,941 shares during the period. Charles Schwab Investment Management Inc. raised its position in GoPro by 132.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,236,823 shares of the company's stock valued at $2,146,000 after purchasing an additional 1,841,983 shares during the period. Geode Capital Management LLC raised its position in GoPro by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 2,923,899 shares of the company's stock valued at $3,187,000 after purchasing an additional 50,834 shares during the period. GSA Capital Partners LLP raised its position in GoPro by 99.5% in the first quarter. GSA Capital Partners LLP now owns 1,723,421 shares of the company's stock valued at $1,142,000 after purchasing an additional 859,677 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of GoPro by 6.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,578,385 shares of the company's stock valued at $1,046,000 after buying an additional 91,283 shares during the period. Hedge funds and other institutional investors own 70.09% of the company's stock.

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.

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