GoPro, Inc. (NASDAQ:GPRO) Short Interest Down 6.8% in March

GoPro, Inc. (NASDAQ:GPRO - Get Free Report) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 6,620,000 shares, a drop of 6.8% from the March 15th total of 7,100,000 shares. Based on an average daily volume of 1,840,000 shares, the short-interest ratio is currently 3.6 days. Approximately 5.5% of the company's stock are short sold.

Institutional Trading of GoPro

Several institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC grew its position in shares of GoPro by 419.8% during the 4th quarter. Quadrant Capital Group LLC now owns 7,402 shares of the company's stock valued at $26,000 after acquiring an additional 5,978 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of GoPro during the 4th quarter valued at about $27,000. HighTower Advisors LLC purchased a new stake in shares of GoPro during the 3rd quarter valued at about $31,000. CWM LLC grew its holdings in GoPro by 2,680.1% during the 4th quarter. CWM LLC now owns 9,091 shares of the company's stock valued at $32,000 after purchasing an additional 8,764 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in GoPro during the 4th quarter valued at about $38,000. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wedbush reaffirmed a "neutral" rating and set a $2.00 price objective on shares of GoPro in a research report on Wednesday, March 27th.

GoPro Trading Up 0.6 %

Shares of GPRO stock traded up $0.01 during mid-day trading on Tuesday, hitting $1.77. The company's stock had a trading volume of 3,110,873 shares, compared to its average volume of 1,870,854. GoPro has a 52 week low of $1.68 and a 52 week high of $4.73. The company has a market cap of $265.32 million, a PE ratio of -5.21 and a beta of 1.43. The company's fifty day simple moving average is $2.24 and its 200-day simple moving average is $2.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.35 and a current ratio of 1.73.

GoPro (NASDAQ:GPRO - Get Free Report) last announced its earnings results on Wednesday, February 7th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. GoPro had a negative return on equity of 11.66% and a negative net margin of 5.29%. The firm had revenue of $295.42 million for the quarter, compared to the consensus estimate of $326.99 million. As a group, equities research analysts expect that GoPro will post -0.38 earnings per share for the current fiscal year.

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.