Short Interest in GoPro, Inc. (NASDAQ:GPRO) Decreases By 5.4%

GoPro, Inc. (NASDAQ:GPRO) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 4,350,000 shares, a decrease of 5.4% from the December 15th total of 4,600,000 shares. Based on an average daily volume of 1,590,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 3.5% of the shares of the stock are short sold.

GoPro Stock Performance

Shares of NASDAQ GPRO opened at $1.05 on Friday. GoPro has a 1 year low of $1.03 and a 1 year high of $3.40. The firm’s 50 day moving average price is $1.18 and its 200 day moving average price is $1.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.32.

Institutional Trading of GoPro

Hedge funds have recently bought and sold shares of the company. RIA Advisory Group LLC purchased a new position in GoPro during the third quarter worth approximately $27,000. Point72 DIFC Ltd purchased a new position in GoPro during the second quarter worth approximately $33,000. Point72 Asia Singapore Pte. Ltd. raised its stake in GoPro by 316.9% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 24,991 shares of the company’s stock worth $35,000 after purchasing an additional 18,996 shares during the period. Intech Investment Management LLC purchased a new position in GoPro during the third quarter worth approximately $35,000. Finally, The Manufacturers Life Insurance Company raised its stake in GoPro by 19.8% during the second quarter. The Manufacturers Life Insurance Company now owns 56,609 shares of the company’s stock worth $80,000 after purchasing an additional 9,337 shares during the period. Institutional investors and hedge funds own 70.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush restated a “neutral” rating and set a $1.50 target price on shares of GoPro in a research report on Wednesday, November 6th.

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.