GoPro, Inc. (NASDAQ:GPRO) Short Interest Update

GoPro, Inc. (NASDAQ:GPRO) was the recipient of a large decline in short interest in January. As of January 15th, there was short interest totalling 4,350,000 shares, a decline of 5.4% from the December 31st total of 4,600,000 shares. Based on an average daily volume of 1,590,000 shares, the short-interest ratio is presently 2.7 days. Currently, 3.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On GoPro

Hedge funds and other institutional investors have recently made changes to their positions in the company. RIA Advisory Group LLC purchased a new stake in shares of GoPro during the third quarter worth approximately $27,000. R Squared Ltd acquired a new stake in GoPro during the 4th quarter worth $27,000. Intech Investment Management LLC purchased a new stake in shares of GoPro during the third quarter worth $35,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of GoPro by 316.9% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 24,991 shares of the company’s stock valued at $35,000 after buying an additional 18,996 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of GoPro by 19.8% in the second quarter. The Manufacturers Life Insurance Company now owns 56,609 shares of the company’s stock worth $80,000 after buying an additional 9,337 shares in the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated a “neutral” rating and set a $1.50 price target on shares of GoPro in a research report on Friday.

GoPro Stock Performance

NASDAQ:GPRO opened at $0.97 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.32. The stock has a market capitalization of $150.44 million, a PE ratio of -0.37 and a beta of 1.53. GoPro has a fifty-two week low of $0.97 and a fifty-two week high of $3.15. The company has a fifty day moving average of $1.13 and a two-hundred day moving average of $1.26.

GoPro (NASDAQ:GPRO) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). GoPro had a negative net margin of 44.37% and a negative return on equity of 33.48%. The firm had revenue of $258.90 million during the quarter, compared to the consensus estimate of $254.92 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. As a group, research analysts forecast that GoPro will post -2.65 earnings per share for the current fiscal year.

About GoPro

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.