GoPro, Inc. (NASDAQ:GPRO) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 11,860,000 shares, an increase of 27.5% from the September 15th total of 9,300,000 shares. Based on an average trading volume of 2,960,000 shares, the days-to-cover ratio is currently 4.0 days.
GPRO stock traded down $0.21 during midday trading on Friday, hitting $6.81. The company's stock had a trading volume of 5,112,917 shares, compared to its average volume of 3,970,042. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.65 and a quick ratio of 0.90. GoPro has a twelve month low of $2.00 and a twelve month high of $7.20. The company's fifty day moving average price is $4.67 and its 200 day moving average price is $4.32. The stock has a market capitalization of $1.07 billion, a P/E ratio of -10.80 and a beta of 1.16.
GoPro (NASDAQ:GPRO) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.05. The firm had revenue of $134.25 million for the quarter, compared to analyst estimates of $109.03 million. GoPro had a negative net margin of 10.24% and a negative return on equity of 38.72%. The company's revenue was down 54.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS. Equities analysts expect that GoPro will post -0.19 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on GPRO shares. Morgan Stanley lifted their price target on shares of GoPro from $2.50 to $3.80 and gave the stock an "underweight" rating in a research report on Friday, August 7th. ValuEngine cut shares of GoPro from a "buy" rating to a "hold" rating in a research report on Thursday, July 23rd. Zacks Investment Research cut shares of GoPro from a "buy" rating to a "hold" rating and set a $5.50 price target on the stock. in a research report on Wednesday, October 7th. Wedbush reissued a "neutral" rating and set a $5.00 price target on shares of GoPro in a research report on Monday, August 3rd. Finally, BidaskClub raised shares of GoPro from a "buy" rating to a "strong-buy" rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of "Hold" and a consensus price target of $4.76.
Several institutional investors have recently modified their holdings of GPRO. Marshall Wace LLP acquired a new position in GoPro during the 1st quarter worth approximately $282,000. State Street Corp increased its position in GoPro by 15.6% in the 1st quarter. State Street Corp now owns 2,977,976 shares of the company's stock valued at $7,802,000 after acquiring an additional 401,711 shares during the period. US Bancorp DE increased its position in GoPro by 66.2% in the 1st quarter. US Bancorp DE now owns 13,457 shares of the company's stock valued at $35,000 after acquiring an additional 5,361 shares during the period. Alliancebernstein L.P. increased its position in GoPro by 12.9% in the 1st quarter. Alliancebernstein L.P. now owns 148,000 shares of the company's stock valued at $388,000 after acquiring an additional 16,900 shares during the period. Finally, Deutsche Bank AG increased its position in GoPro by 97.8% in the 1st quarter. Deutsche Bank AG now owns 91,781 shares of the company's stock valued at $241,000 after acquiring an additional 45,372 shares during the period. 45.68% of the stock is owned by institutional investors.
GoPro Company Profile
GoPro, Inc develops and sells cameras, drones, and mountable and wearable accessories in the United States and internationally. The company offers cloud connected HERO7 Silver, HERO7 Black, and HERO8 Black waterproof cameras; MAX, a 360-degree waterproof camera; GoPro Plus, a cloud-based storage solution that enables subscribers to access, edit, and share content; Quik, a desktop editing application; and GoPro App, a mobile app that uploads a user's GoPro photos and video clips to a smartphone, as well as allows users to mix and match filters for a customizable editing experience.
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