GoPro (NASDAQ:GPRO) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of GoPro (NASDAQ:GPRO) from a sell rating to a hold rating in a research note published on Wednesday morning.

Separately, Wedbush dropped their price target on GoPro from $2.00 to $1.50 and set a neutral rating for the company in a research note on Wednesday, August 7th.

GoPro Stock Up 0.8 %

NASDAQ GPRO opened at $1.24 on Wednesday. GoPro has a 12 month low of $1.16 and a 12 month high of $3.80. The company has a current ratio of 1.47, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The stock has a market cap of $189.39 million, a PE ratio of -0.52 and a beta of 1.61. The stock’s 50 day moving average is $1.40 and its 200 day moving average is $1.70.

GoPro (NASDAQ:GPRO) last released its earnings results on Tuesday, August 6th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.01. The firm had revenue of $186.22 million for the quarter, compared to the consensus estimate of $170.02 million. GoPro had a negative net margin of 42.19% and a negative return on equity of 24.57%. The company’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. Research analysts predict that GoPro will post -0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On GoPro

Several institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC raised its position in shares of GoPro by 191.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,105,941 shares of the company’s stock valued at $4,694,000 after buying an additional 1,384,308 shares in the last quarter. CenterBook Partners LP purchased a new stake in GoPro during the fourth quarter valued at approximately $267,000. SG Americas Securities LLC lifted its stake in shares of GoPro by 69.8% in the 1st quarter. SG Americas Securities LLC now owns 106,154 shares of the company’s stock valued at $237,000 after purchasing an additional 43,645 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of GoPro in the 1st quarter worth approximately $655,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of GoPro by 13.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,677,795 shares of the company’s stock worth $5,822,000 after purchasing an additional 197,046 shares during the period. Institutional investors own 70.09% of the company’s stock.

GoPro Company Profile

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.