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

GoPro (NASDAQ:GPRO) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, Wedbush reissued a “neutral” rating and set a $1.50 target price on shares of GoPro in a research report on Friday, January 31st.

GoPro Price Performance

GoPro stock opened at $0.74 on Friday. GoPro has a 52-week low of $0.68 and a 52-week high of $2.40. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average is $0.96 and its 200 day moving average is $1.17. The company has a market cap of $113.95 million, a price-to-earnings ratio of -0.26 and a beta of 1.62.

GoPro (NASDAQ:GPRO) last announced its earnings results on Thursday, February 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.12). GoPro had a negative net margin of 53.94% and a negative return on equity of 55.77%. Sell-side analysts forecast that GoPro will post -0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On GoPro

Several institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in GoPro by 153.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 23,905 shares of the company’s stock worth $26,000 after purchasing an additional 14,485 shares during the period. R Squared Ltd purchased a new stake in shares of GoPro in the fourth quarter worth approximately $27,000. RIA Advisory Group LLC purchased a new stake in shares of GoPro in the third quarter worth approximately $27,000. Picton Mahoney Asset Management lifted its stake in shares of GoPro by 77.4% during the 4th quarter. Picton Mahoney Asset Management now owns 27,908 shares of the company’s stock worth $30,000 after acquiring an additional 12,172 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in GoPro during the 3rd quarter valued at $35,000. 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.