GoPro (NASDAQ:GPRO) Downgraded by StockNews.com to Sell

GoPro (NASDAQ:GPRO) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

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

GoPro Trading Up 3.4 %

Shares of GPRO stock opened at $0.71 on Friday. 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 business has a 50-day moving average price of $0.91 and a two-hundred day moving average price of $1.14. GoPro has a 12-month low of $0.64 and a 12-month high of $2.40. The firm has a market cap of $110.38 million, a P/E ratio of -0.25 and a beta of 1.62.

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

Hedge Funds Weigh In On GoPro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in GoPro by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 2,923,899 shares of the company’s stock valued at $3,187,000 after acquiring an additional 50,834 shares during the last quarter. State Street Corp grew its holdings in GoPro by 0.5% during the third quarter. State Street Corp now owns 2,533,952 shares of the company’s stock valued at $3,446,000 after purchasing an additional 11,454 shares during the period. Two Sigma Investments LP lifted its position in shares of GoPro by 4.2% during the 4th quarter. Two Sigma Investments LP now owns 1,510,166 shares of the company’s stock valued at $1,646,000 after buying an additional 61,484 shares in the last quarter. Renaissance Technologies LLC raised its stake in GoPro by 14.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,310,400 shares of the company’s stock worth $1,428,000 after acquiring an additional 164,600 shares during the period. Finally, Northern Trust Corp raised its position in shares of GoPro by 8.7% during the 4th quarter. Northern Trust Corp now owns 1,150,517 shares of the company’s stock valued at $1,254,000 after purchasing an additional 92,463 shares during the period. 70.09% of the stock is owned by institutional investors.

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.