GoPro (NASDAQ:GPRO) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• GoPro shares crossed above their 200-day moving average of $0.94, reaching $1.3550 before last trading at $1.33 on volume of more than 10.2 million shares.
• Analysts remain bearish, with two firms rating the stock “Sell” and MarketBeat reporting an overall average rating of “Sell.”
• 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.

GoPro, Inc. (NASDAQ:GPRO - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $0.94 and traded as high as $1.3550. GoPro shares last traded at $1.33, with a volume of 10,279,015 shares trading hands.

Analysts Set New Price Targets

GPRO has been the topic of several research analyst reports. Zacks Research cut GoPro from a "hold" rating to a "strong sell" rating in a report on Friday, August 21st. Wall Street Zen raised GoPro from a "strong sell" rating to a "sell" rating in a report on Sunday, August 23rd. Finally, Weiss Ratings upgraded GoPro from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of "Sell".

GoPro Stock Performance

The business's fifty day moving average is $0.96 and its 200-day moving average is $0.94. The company has a quick ratio of 0.35, a current ratio of 0.57 and a debt-to-equity ratio of 0.58. The company has a market cap of $245.38 million, a PE ratio of -1.34 and a beta of 2.45.

GoPro (NASDAQ:GPRO - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.21) EPS 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 business had revenue of $104.93 million for the quarter, compared to analysts' expectations of $151.47 million. As a group, research analysts predict that GoPro, Inc. will post -0.81 EPS for the current fiscal year.

Hedge Funds Weigh In On GoPro

Institutional investors have recently bought and sold shares of the stock. Jefferies Financial Group Inc. lifted its position in GoPro by 88.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 23,794 shares of the company's stock valued at $34,000 after purchasing an additional 11,194 shares in the last quarter. R Squared Ltd raised its stake in shares of GoPro by 49.4% in the first quarter. R Squared Ltd now owns 97,067 shares of the company's stock worth $75,000 after buying an additional 32,113 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of GoPro by 10.6% in the first quarter. Public Employees Retirement System of Ohio now owns 149,341 shares of the company's stock worth $115,000 after buying an additional 14,324 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of GoPro by 27.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 162,535 shares of the company's stock valued at $125,000 after buying an additional 34,961 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of GoPro by 615.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 92,665 shares of the company's stock valued at $131,000 after buying an additional 79,706 shares in the last quarter. 70.09% of the stock is owned by institutional investors.

About GoPro

GoPro, Inc is a technology company that develops and sells cameras, accessories and software designed to help consumers and professionals capture and share photos and videos. Its products are commonly used for action sports, travel, outdoor recreation and other activities that benefit from compact, durable recording equipment.

The company's product portfolio includes HERO cameras, MAX 360-degree cameras, camera mounts and other accessories. GoPro also offers the Quik mobile and desktop application, which provides tools for organizing, editing and sharing content.

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