GoPro, Inc. (NASDAQ:GPRO – Get Free Report) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 7,220,000 shares, an increase of 5.2% from the October 15th total of 6,860,000 shares. Approximately 5.9% of the shares of the stock are short sold. Based on an average trading volume of 1,390,000 shares, the short-interest ratio is currently 5.2 days.
GoPro Price Performance
Shares of GoPro stock traded up $0.21 during mid-day trading on Friday, reaching $3.54. 2,237,508 shares of the stock were exchanged, compared to its average volume of 1,430,846. The company has a market cap of $540.66 million, a price-to-earnings ratio of -11.50 and a beta of 1.42. GoPro has a fifty-two week low of $2.41 and a fifty-two week high of $6.57. The company has a current ratio of 1.86, a quick ratio of 1.35 and a debt-to-equity ratio of 0.25. The firm has a 50-day simple moving average of $3.01 and a 200 day simple moving average of $3.68.
Analyst Ratings Changes
Several research firms recently issued reports on GPRO. Morgan Stanley dropped their price target on shares of GoPro from $4.30 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 8th. Wedbush dropped their target price on GoPro from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Wednesday, November 8th. Finally, StockNews.com initiated coverage on GoPro in a research report on Thursday, October 5th. They set a “hold” rating for the company.
Institutional Trading of GoPro
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of GoPro by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,279,865 shares of the company’s stock worth $60,539,000 after acquiring an additional 410,473 shares in the last quarter. BlackRock Inc. boosted its stake in GoPro by 1.1% in the third quarter. BlackRock Inc. now owns 11,806,752 shares of the company’s stock worth $58,208,000 after purchasing an additional 132,213 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of GoPro by 25.5% during the first quarter. Dimensional Fund Advisors LP now owns 6,971,000 shares of the company’s stock worth $35,063,000 after purchasing an additional 1,415,157 shares during the last quarter. FMR LLC grew its holdings in shares of GoPro by 27.4% during the second quarter. FMR LLC now owns 5,278,262 shares of the company’s stock worth $29,189,000 after purchasing an additional 1,133,819 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of GoPro by 4.8% in the first quarter. Bank of New York Mellon Corp now owns 4,240,383 shares of the company’s stock valued at $21,329,000 after buying an additional 193,669 shares in the last quarter. Institutional investors and hedge funds own 54.26% of the company’s stock.
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 HERO11 Black, HERO11 Black Mini, HERO10 Black, HERO10 Black Bones, HERO9 Black, and HERO8 Black waterproof cameras; MAX, a 360-degree waterproof camera; GoPro, a subscription service that includes full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription offers access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik app, a mobile app that enable users to get their favorite photos and videos with footage from any phone or camera.
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