GoPro Inc (GPRO) Short Interest Up 4.3% in December

GoPro Inc (NASDAQ:GPRO) saw a large increase in short interest in December. As of December 29th, there was short interest totalling 31,241,300 shares, an increase of 4.3% from the December 15th total of 29,961,709 shares. Currently, 28.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,155,426 shares, the short-interest ratio is currently 9.9 days.

GPRO has been the topic of several recent research reports. JPMorgan Chase & Co. set a $9.00 target price on GoPro and gave the stock a “buy” rating in a report on Monday, January 8th. Longbow Research upgraded GoPro from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $9.60 to $13.00 in a report on Wednesday, October 18th. They noted that the move was a valuation call. Zacks Investment Research upgraded GoPro from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Wednesday, October 4th. Oppenheimer restated a “hold” rating on shares of GoPro in a report on Friday, September 29th. Finally, Citigroup lowered their target price on GoPro from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $8.74.

In other GoPro news, CEO Nicholas Woodman sold 515,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $9.30, for a total transaction of $4,789,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anthony John Bates sold 17,023 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $7.98, for a total value of $135,843.54. Following the transaction, the director now owns 99,459 shares in the company, valued at $793,682.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 704,907 shares of company stock valued at $6,478,800. 28.58% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GPRO. Nomura Holdings Inc. lifted its holdings 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 acquiring an additional 704 shares during the last quarter. Amalgamated Bank lifted its holdings in GoPro by 14.6% in the second quarter. Amalgamated Bank now owns 14,564 shares of the company’s stock valued at $118,000 after acquiring an additional 1,858 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in GoPro in the third quarter valued at approximately $122,000. North Star Investment Management Corp. lifted its holdings in GoPro by 226.6% in the fourth quarter. North Star Investment Management Corp. now owns 16,575 shares of the company’s stock valued at $125,000 after acquiring an additional 11,500 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in GoPro in the third quarter valued at approximately $139,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

GoPro (NASDAQ:GPRO) opened at $6.36 on Wednesday. GoPro has a twelve month low of $5.04 and a twelve month high of $11.89. The company has a market capitalization of $928.30, a P/E ratio of -3.70 and a beta of 0.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.65 and a quick ratio of 1.08.

GoPro (NASDAQ:GPRO) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. GoPro had a negative return on equity of 15.90% and a negative net margin of 17.52%. equities analysts anticipate that GoPro will post -0.87 EPS for the current fiscal 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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