GoPro, Inc. (GPRO) Short Interest Down 4.6% in July

GoPro, Inc. (NASDAQ:GPRO) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 27,369,024 shares, a decrease of 4.6% from the July 14th total of 28,698,352 shares. Based on an average trading volume of 1,902,871 shares, the short-interest ratio is currently 14.4 days. Currently, 25.8% of the shares of the stock are sold short.

In related news, Director Anthony John Bates sold 41,076 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $8.49, for a total value of $348,735.24. Following the sale, the director now directly owns 142,011 shares of the company’s stock, valued at approximately $1,205,673.39. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 28.69% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in GPRO. Nomura Holdings Inc. boosted its position in GoPro by 5.4% in the second quarter. Nomura Holdings Inc. now owns 13,769 shares of the company’s stock valued at $112,000 after buying an additional 704 shares during the period. State Street Corp boosted its stake in shares of GoPro by 6.7% in the second quarter. State Street Corp now owns 1,914,069 shares of the company’s stock valued at $15,563,000 after buying an additional 120,250 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of GoPro during the second quarter valued at approximately $589,000. ETF Managers Group LLC purchased a new stake in shares of GoPro during the second quarter valued at approximately $652,000. Finally, UBS Oconnor LLC purchased a new stake in shares of GoPro during the second quarter valued at approximately $528,000. 25.12% of the stock is currently owned by institutional investors.

A number of brokerages recently commented on GPRO. BidaskClub raised shares of GoPro from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of GoPro in a research note on Wednesday, August 9th. Morgan Stanley set a $9.00 price objective on shares of GoPro and gave the company a “hold” rating in a research note on Saturday, August 5th. Vetr cut shares of GoPro from a “hold” rating to a “strong sell” rating and set a $8.02 price objective on the stock. in a research note on Monday, August 7th. Finally, Goldman Sachs Group, Inc. (The) raised shares of GoPro from a “sell” rating to a “neutral” rating and increased their price objective for the company from $6.75 to $10.00 in a research note on Tuesday. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have assigned a buy rating to the stock. GoPro has an average rating of “Hold” and a consensus price target of $8.47.

GoPro (NASDAQ:GPRO) opened at 9.41 on Thursday. GoPro has a 12-month low of $7.14 and a 12-month high of $17.68. The stock’s market cap is $1.28 billion. The company has a 50-day moving average of $8.57 and a 200 day moving average of $8.65.

GoPro (NASDAQ:GPRO) last released its earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.20. GoPro had a negative return on equity of 41.52% and a negative net margin of 27.88%. The company had revenue of $296.52 million for the quarter, compared to analysts’ expectations of $268.94 million. During the same quarter in the previous year, the business posted ($0.52) EPS. The business’s revenue for the quarter was up 34.3% on a year-over-year basis. Equities analysts anticipate that GoPro will post ($0.05) earnings per share for the current year.

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About GoPro

GoPro, Inc (GoPro) produces cameras and mountable and wearable accessories. The Company’s product offerings include HERO5, which is a line of cloud-connected cameras featuring image stabilization, telemetry, cloud connectivity and voice control; GoPro Plus, which is a cloud-based storage solution that enables subscribers to access, edit and share content; Quik, which is a mobile editing application that creates edits on a smartphone; Capture, which is a mobile application that allows users to preview and play back shots, control their GoPro cameras and share content on the fly using their smartphones; Karma, which is its compact and foldable drone and versatile stabilization solution that includes the Karma controller, and camera stabilizer, and it all fits in a custom backpack, and Karma Grip, which is a handheld, body-mountable camera stabilizer.

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