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

Key Points

• GoPro shares rose 5.5% and traded as high as $1.40, moving above the 200-day moving average of $0.92 on heavy volume.
• Analyst sentiment remains negative: two analysts rate the stock “Sell,” while Zacks Research downgraded it to “Strong Sell.”
• GoPro reported weaker-than-expected quarterly results, with an adjusted loss of $0.21 per share and revenue of $104.93 million versus the $151.47 million consensus estimate.

Shares of GoPro, Inc. (NASDAQ:GPRO - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.92 and traded as high as $1.40. GoPro shares last traded at $1.34, with a volume of 23,530,552 shares traded.

Analysts Set New Price Targets

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

GoPro Trading Up 5.5%

The stock's 50 day simple moving average is $0.87 and its 200 day simple moving average is $0.92. The firm has a market cap of $247.23 million, a PE ratio of -1.35 and a beta of 2.45. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.35 and a current ratio of 0.57.

GoPro (NASDAQ:GPRO - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $104.93 million for the quarter, compared to analysts' expectations 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

Several hedge funds have recently added to or reduced their stakes in GPRO. UBS Group AG raised its stake in GoPro by 168.6% during the fourth quarter. UBS Group AG now owns 3,781,516 shares of the company's stock valued at $5,332,000 after buying an additional 2,373,901 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of GoPro by 137.1% in the first 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 last quarter. GSA Capital Partners LLP increased its holdings in shares of GoPro by 1,441.6% during the fourth quarter. GSA Capital Partners LLP now owns 945,410 shares of the company's stock valued at $1,333,000 after acquiring an additional 884,085 shares in the last quarter. OMERS ADMINISTRATION Corp increased its holdings in shares of GoPro by 59.4% during the first quarter. OMERS ADMINISTRATION Corp now owns 265,800 shares of the company's stock valued at $205,000 after acquiring an additional 99,100 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of GoPro by 615.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 92,665 shares of the company's stock valued at $131,000 after acquiring an additional 79,706 shares in the last quarter. Institutional investors own 70.09% of the company's stock.

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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