GoPro (NASDAQ:GPRO) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

GoPro, Inc. (NASDAQ:GPRO) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.21 and traded as high as $1.2898. GoPro shares last traded at $1.25, with a volume of 6,199,780 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Weiss Ratings cut shares of GoPro from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 15th. Wall Street Zen downgraded GoPro from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

GoPro Trading Up 2.5%

The company has a current ratio of 0.58, a quick ratio of 0.38 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $213.73 million, a P/E ratio of -1.58 and a beta of 2.46. The business has a 50 day moving average of $1.05 and a 200-day moving average of $1.21.

GoPro (NASDAQ:GPRO) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.32). GoPro had a negative net margin of 20.70% and a negative return on equity of 161.44%. The company had revenue of $99.07 million during the quarter, compared to analyst estimates of $137.54 million. Analysts anticipate that GoPro, Inc. will post -0.04 EPS for the current fiscal year.

Insider Activity

In other GoPro news, COO Brian Mcgee sold 130,631 shares of GoPro stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $0.97, for a total value of $126,712.07. Following the sale, the chief operating officer owned 947,123 shares of the company’s stock, valued at $918,709.31. This trade represents a 12.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 18.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GoPro

Hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors boosted its position in GoPro by 89.6% during the 2nd quarter. Captrust Financial Advisors now owns 33,041 shares of the company’s stock worth $25,000 after acquiring an additional 15,618 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of GoPro in the second quarter valued at approximately $25,000. Jefferies Financial Group Inc. bought a new stake in shares of GoPro in the third quarter worth $27,000. Caitong International Asset Management Co. Ltd lifted its position in shares of GoPro by 1,295,800.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 12,959 shares of the company’s stock worth $27,000 after purchasing an additional 12,958 shares in the last quarter. Finally, Banco BTG Pactual S.A. acquired a new position in GoPro during the second quarter worth $27,000. Institutional investors and hedge funds own 70.09% of the company’s stock.

About GoPro

GoPro, Inc (NASDAQ: GPRO) is an American technology company specializing in the design and manufacture of compact, high-definition cameras and related accessories. Headquartered in San Mateo, California, GoPro’s product lineup is centered on its flagship HERO series of action cameras, which combine rugged construction, waterproof housings and advanced imaging capabilities. In addition to the HERO line, the company offers the MAX camera for 360-degree video capture, along with an array of mounts, grips and protective cases to support use in extreme sports, travel and professional video production.

Since its founding in 2002 by Nicholas Woodman, who continues to serve as chief executive officer, GoPro has expanded beyond hardware into software and cloud-based services.