GoPro, Inc. (NASDAQ:GPRO) Short Interest Up 5.7% in July

GoPro, Inc. (NASDAQ:GPRO) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 5,900,000 shares, a growth of 5.7% from the July 15th total of 5,580,000 shares. Currently, 4.9% of the company’s shares are short sold. Based on an average daily volume of 1,970,000 shares, the short-interest ratio is currently 3.0 days.

Wall Street Analysts Forecast Growth

GPRO has been the subject of a number of research reports. Wedbush lowered their price objective on shares of GoPro from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. StockNews.com lowered shares of GoPro from a “hold” rating to a “sell” rating in a report on Thursday, August 8th.

GoPro Stock Up 1.9 %

NASDAQ GPRO traded up $0.03 on Tuesday, hitting $1.34. The stock had a trading volume of 629,881 shares, compared to its average volume of 1,900,551. GoPro has a 52-week low of $1.16 and a 52-week high of $3.94. The business’s fifty day moving average price is $1.43 and its 200 day moving average price is $1.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.68 and a quick ratio of 1.08. The stock has a market cap of $200.11 million, a price-to-earnings ratio of -0.55 and a beta of 1.61.

GoPro (NASDAQ:GPRO) last announced its earnings results on Tuesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.01. The company had revenue of $186.22 million for the quarter, compared to analyst estimates of $170.02 million. GoPro had a negative return on equity of 14.66% and a negative net margin of 36.75%. The firm’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.13) EPS. Equities research analysts anticipate that GoPro will post -0.53 earnings per share for the current year.

Institutional Trading of GoPro

A number of institutional investors have recently bought and sold shares of GPRO. Quadrant Capital Group LLC lifted its position in shares of GoPro by 419.8% during the 4th quarter. Quadrant Capital Group LLC now owns 7,402 shares of the company’s stock valued at $26,000 after buying an additional 5,978 shares in the last quarter. CWM LLC raised its position in GoPro by 2,680.1% during the fourth quarter. CWM LLC now owns 9,091 shares of the company’s stock worth $32,000 after acquiring an additional 8,764 shares during the period. Oak Thistle LLC purchased a new position in GoPro during the second quarter valued at $32,000. Point72 DIFC Ltd acquired a new stake in shares of GoPro in the second quarter valued at about $33,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in shares of 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 in the last quarter. 70.09% of the stock is currently owned by institutional investors and hedge funds.

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.