GoPro (NASDAQ:GPRO) Stock Breaks Below 200-Day Moving Average – Time to Sell?

GoPro, Inc. (NASDAQ:GPRO)’s share price crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $0.98 and traded as low as $0.9224. GoPro shares last traded at $0.93, with a volume of 10,138,877 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of GoPro in a report on Friday, October 16th. Wall Street Zen raised shares of GoPro from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 23rd. Finally, Zacks Research upgraded shares of GoPro from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

GoPro Stock Performance

The firm has a market cap of $171.59 million, a PE ratio of -0.94 and a beta of 2.43. The stock has a 50 day simple moving average of $1.16 and a two-hundred day simple moving average of $0.98.

GoPro (NASDAQ:GPRO) last issued its earnings results on Monday, August 10th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.23). The company had revenue of $104.93 million during the quarter, compared to analysts’ expectations of $151.47 million. GoPro had a negative return on equity of 381.63% and a negative net margin of 28.52%. Equities research analysts forecast that GoPro, Inc. will post -0.81 earnings per share for the current year.

Institutional Investors Weigh In On GoPro

Several hedge funds have recently bought and sold shares of GPRO. Renaissance Technologies LLC boosted its position in GoPro by 137.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,625,900 shares of the company’s stock worth $1,252,000 after purchasing an additional 940,300 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its stake in shares of GoPro by 59.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 265,800 shares of the company’s stock valued at $205,000 after purchasing an additional 99,100 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of GoPro by 27.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 162,535 shares of the company’s stock valued at $125,000 after purchasing an additional 34,961 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in GoPro by 10.6% during the first quarter. Public Employees Retirement System of Ohio now owns 149,341 shares of the company’s stock worth $115,000 after buying an additional 14,324 shares in the last quarter. Finally, R Squared Ltd boosted its holdings in GoPro by 49.4% during the first quarter. R Squared Ltd now owns 97,067 shares of the company’s stock worth $75,000 after buying an additional 32,113 shares in the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.

About GoPro

GoPro, Inc develops and sells cameras, accessories and software designed to help consumers and professionals capture and share photos and video, particularly in action, travel, sports and outdoor settings. Its product portfolio includes compact HERO cameras, the MAX 360-degree camera and related mounts, grips, cases, lighting products and other accessories.

The company also provides subscription-based services that complement its hardware, including cloud storage, automatic media backup, editing tools, premium features and other benefits.