GoPro (NASDAQ:GPRO) Downgraded by Wall Street Zen to Strong Sell

Wall Street Zen downgraded shares of GoPro (NASDAQ:GPRO) from a sell rating to a strong sell rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings raised GoPro from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

GoPro Price Performance

Shares of NASDAQ:GPRO opened at $0.59 on Friday. GoPro has a 12 month low of $0.57 and a 12 month high of $3.05. The firm has a market capitalization of $109.78 million, a P/E ratio of -0.60 and a beta of 2.42. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.57 and a quick ratio of 0.38. The company’s fifty day moving average price is $0.73 and its 200 day moving average price is $0.90.

GoPro (NASDAQ:GPRO) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.23). The company had revenue of $104.93 million during the quarter, compared to analyst estimates of $151.47 million. GoPro had a negative net margin of 28.52% and a negative return on equity of 411.41%.

Insider Activity at GoPro

In related news, COO Brian Mcgee sold 130,631 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $0.97, for a total value of $126,712.07. Following the completion of the sale, the chief operating officer owned 947,123 shares in the company, valued at $918,709.31. This represents a 12.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 18.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GPRO. AQR Capital Management LLC raised its holdings in shares of GoPro by 957.3% in the first quarter. AQR Capital Management LLC now owns 3,687,711 shares of the company’s stock valued at $2,445,000 after buying an additional 3,338,941 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of GoPro by 6.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,578,385 shares of the company’s stock worth $1,046,000 after buying an additional 91,283 shares during the period. Jump Financial LLC purchased a new position in shares of GoPro during the second quarter worth about $25,000. Banco BTG Pactual S.A. purchased a new position in shares of GoPro during the second quarter worth about $27,000. Finally, Brevan Howard Capital Management LP acquired a new position in GoPro in the 2nd quarter valued at about $187,000. 70.09% of the stock is owned by hedge funds and other institutional investors.

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.