GoPro (NASDAQ:GPRO) Shares Cross Above 200-Day Moving Average - Time to Sell?

Key Points

• GoPro shares rose above their 200-day moving average, reaching $1.38 before trading at $1.32, compared with the $0.96 long-term average.
• Analysts remain bearish: Wall Street Zen rated the stock “Sell,” Zacks Research rated it “Strong Sell,” and the overall MarketBeat consensus is “Sell.”
• GoPro reported weak quarterly results, including a $0.21 per-share loss versus expectations for $0.02 in earnings and revenue of $104.93 million versus the $151.47 million consensus estimate.

GoPro, Inc. (NASDAQ:GPRO - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $0.96 and traded as high as $1.38. GoPro shares last traded at $1.32, with a volume of 7,517,361 shares traded.

Analysts Set New Price Targets

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

GoPro Price Performance

The stock has a market capitalization of $243.54 million, a P/E ratio of -1.33 and a beta of 2.43. The stock's fifty day moving average price is $1.03 and its 200 day moving average price is $0.96.

GoPro (NASDAQ:GPRO - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $104.93 million for the quarter, compared to the consensus estimate of $151.47 million. GoPro had a negative net margin of 28.52% and a negative return on equity of 411.41%. On average, sell-side analysts expect that GoPro, Inc. will post -0.81 earnings per share for the current year.

Institutional Trading of GoPro

Large investors have recently modified their holdings of the company. R Squared Ltd grew its stake in 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 purchasing an additional 32,113 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in GoPro by 10.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 149,341 shares of the company's stock valued at $115,000 after purchasing an additional 14,324 shares in the last quarter. Assenagon Asset Management S.A. raised its position in 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 purchasing an additional 34,961 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of GoPro by 615.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 92,665 shares of the company's stock worth $131,000 after buying an additional 79,706 shares during the period. Finally, OMERS ADMINISTRATION Corp lifted its holdings in shares of GoPro by 59.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 265,800 shares of the company's stock worth $205,000 after buying an additional 99,100 shares during the period. Hedge funds and other institutional investors own 70.09% of the company's stock.

About GoPro

GoPro, Inc develops and sells compact cameras and related products designed to capture immersive photos and video during travel, sports, outdoor recreation and everyday activities. Its product portfolio includes HERO action cameras, MAX 360-degree cameras, camera accessories, mounts and other equipment used by consumers, creators and professionals.

The company also provides software and digital services that support content capture, editing, storage and sharing. Its Quik mobile and desktop applications are designed to help users organize and edit footage, while GoPro subscription offerings provide features such as cloud storage, automatic uploads, editing tools, camera replacement benefits and discounts on products and accessories.

Founded in 2002 by Nicholas Woodman, GoPro grew from a wrist-mounted camera concept into a global action-camera brand.

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