GoPro (NASDAQ:GPRO) Stock Breaks Below 200-Day Moving Average - Time to Sell?

Key Points

• GoPro shares fell below their 200-day moving average, trading as low as $0.9224 versus the $0.98 average, and last changing hands near $0.93.
• Analyst sentiment remains negative: the consensus rating is “Reduce”, with ratings split between Hold and Sell despite upgrades from “strong sell.”
• GoPro reported weak quarterly results, including an adjusted loss of $0.21 per share and revenue of $104.93 million, both missing expectations; analysts forecast a full-year loss of $0.81 per share.

GoPro, Inc. (NASDAQ:GPRO - Get Free Report)'s share price passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $0.98 and traded as low as $0.9224. GoPro shares last traded at $0.93, with a volume of 10,138,877 shares.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GPRO shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of GoPro in a research note on Friday, October 16th. Zacks Research raised shares of GoPro from a "strong sell" rating to a "hold" rating in a research note on Monday, October 12th. Finally, Wall Street Zen upgraded GoPro from a "strong sell" rating to a "sell" rating in a report on Sunday, August 23rd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce".

GoPro Price Performance

The stock has a market cap of $171.59 million, a price-to-earnings ratio of -0.94 and a beta of 2.43. The company's fifty day moving average price is $1.16 and its 200-day moving average price is $0.98.

GoPro (NASDAQ:GPRO - Get Free Report) last released 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 return on equity of 381.63% and a negative net margin of 28.52%. The company had revenue of $104.93 million during the quarter, compared to analyst estimates of $151.47 million. On average, sell-side analysts forecast that GoPro, Inc. will post -0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GoPro

Large investors have recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp raised its stake in 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 acquiring an additional 99,100 shares during the last quarter. Renaissance Technologies LLC lifted its position in GoPro by 137.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,625,900 shares of the company's stock worth $1,252,000 after acquiring an additional 940,300 shares during the period. Public Employees Retirement System of Ohio lifted 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 worth $115,000 after acquiring an additional 14,324 shares during the period. R Squared Ltd grew its stake in GoPro by 49.4% during the 1st quarter. R Squared Ltd now owns 97,067 shares of the company's stock valued at $75,000 after purchasing an additional 32,113 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake 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 during the last quarter. 70.09% of the stock is owned by hedge funds and other institutional investors.

About GoPro

GoPro, Inc develops and sells cameras, accessories and software designed to help consumers and professionals capture and share photos and video, particularly in action, travel, sports and outdoor settings. Its product portfolio includes compact HERO cameras, the MAX 360-degree camera and related mounts, grips, cases, lighting products and other accessories.

The company also provides subscription-based services that complement its hardware, including cloud storage, automatic media backup, editing tools, premium features and other benefits.

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