GoPro Inc. (NASDAQ:GPRO) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 34,160,863 shares, an increase of 4.4% from the September 15th total of 32,732,686 shares. Currently, 36.5% of the shares of the company are sold short. Based on an average trading volume of 15,246,497 shares, the short-interest ratio is currently 2.2 days.
In related news, Director Michael E. Marks sold 40,000 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $15.58, for a total value of $623,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Anthony John Bates sold 9,704 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $14.16, for a total value of $137,408.64. Following the completion of the transaction, the president now directly owns 398,137 shares in the company, valued at $5,637,619.92. The disclosure for this sale can be found here. 28.69% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Inc. purchased a new position in shares of GoPro during the second quarter worth about $100,000. Emerald Acquisition Ltd. bought a new stake in GoPro during the second quarter worth approximately $111,000. Penserra Capital Management LLC increased its stake in GoPro by 42.9% in the second quarter. Penserra Capital Management LLC now owns 10,533 shares of the company’s stock worth $114,000 after buying an additional 3,164 shares in the last quarter. MSI Financial Services Inc increased its stake in GoPro by 42.9% in the third quarter. MSI Financial Services Inc now owns 6,812 shares of the company’s stock worth $114,000 after buying an additional 2,044 shares in the last quarter. Finally, BlueMountain Capital Management LLC bought a new stake in GoPro during the first quarter worth approximately $117,000. Institutional investors and hedge funds own 28.60% of the company’s stock.
Several equities analysts recently issued reports on GPRO shares. Raymond James Financial Inc. reissued an “outperform” rating on shares of GoPro in a research report on Friday, October 14th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $16.00 price target on shares of GoPro in a research report on Saturday. Zacks Investment Research raised GoPro from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, September 27th. Dougherty & Co reaffirmed a “positive” rating on shares of GoPro in a research report on Wednesday, September 7th. Finally, Vetr raised GoPro from a “buy” rating to a “strong-buy” rating and set a $17.43 price target on the stock in a research report on Monday, August 22nd. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $15.89.
Shares of GoPro (NASDAQ:GPRO) opened at 14.41 on Wednesday. The stock’s 50 day moving average is $15.08 and its 200-day moving average is $12.67. GoPro has a one year low of $8.62 and a one year high of $30.67. The firm’s market cap is $2.01 billion.
GoPro (NASDAQ:GPRO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.06. GoPro had a negative net margin of 17.31% and a negative return on equity of 27.52%. The business had revenue of $220.80 million for the quarter, compared to analyst estimates of $194.37 million. During the same period in the previous year, the business posted $0.35 earnings per share. The business’s revenue was down 47.4% compared to the same quarter last year. Analysts anticipate that GoPro will post ($1.07) EPS for the current fiscal year.
GoPro Company Profile
GoPro, Inc produces mountable and wearable cameras (capture devices) and accessories. The Company’s products are sold globally through retailers, wholesale distributors and on its Website. It enables people to capture compelling, immersive photo and video content of themselves in their day to day life, as well as participating in their favorite activities.
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