GoPro, Inc. (NASDAQ:GPRO) Short Interest Down 8.9% in October

GoPro, Inc. (NASDAQ:GPRO) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 5,720,000 shares, a drop of 8.9% from the October 15th total of 6,280,000 shares. Based on an average trading volume of 1,230,000 shares, the short-interest ratio is currently 4.7 days. Approximately 4.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

GPRO has been the subject of several recent analyst reports. Wedbush reaffirmed a “neutral” rating and set a $1.50 price objective on shares of GoPro in a research note on Wednesday, November 6th. StockNews.com upgraded GoPro from a “sell” rating to a “hold” rating in a research report on Friday, September 13th.

Institutional Trading of GoPro

Hedge funds and other institutional investors have recently bought and sold shares of the stock. RIA Advisory Group LLC bought a new position in GoPro in the 3rd quarter worth $27,000. Oak Thistle LLC purchased a new stake in GoPro in the 2nd quarter worth $32,000. Point72 DIFC Ltd bought a new position in shares of GoPro during the 2nd quarter valued at about $33,000. Point72 Asia Singapore Pte. Ltd. grew its position 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 valued at $35,000 after purchasing an additional 18,996 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of GoPro in the third quarter worth about $35,000. Hedge funds and other institutional investors own 70.09% of the company’s stock.

GoPro Stock Down 1.3 %

Shares of GPRO stock traded down $0.02 during trading hours on Tuesday, hitting $1.18. 1,159,829 shares of the company’s stock traded hands, compared to its average volume of 1,723,561. The stock has a market cap of $181.84 million, a price-to-earnings ratio of -0.45 and a beta of 1.56. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. GoPro has a 12-month low of $1.16 and a 12-month high of $3.80. The stock’s fifty day simple moving average is $1.34 and its two-hundred day simple moving average is $1.41.

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.