StockNews.com Upgrades GoPro (NASDAQ:GPRO) to Hold

GoPro (NASDAQ:GPRO) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, Wedbush decreased their target price on GoPro from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th.

GoPro Price Performance

NASDAQ GPRO traded up $0.01 during trading on Wednesday, reaching $1.24. The company’s stock had a trading volume of 856,784 shares, compared to its average volume of 1,860,747. The stock has a market capitalization of $189.39 million, a PE ratio of -0.52 and a beta of 1.61. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.47 and a quick ratio of 1.07. The firm has a fifty day moving average of $1.40 and a 200 day moving average of $1.70. GoPro has a one year low of $1.16 and a one year high of $3.80.

GoPro (NASDAQ:GPRO) last announced its earnings results on Tuesday, August 6th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.01. The business had revenue of $186.22 million for the quarter, compared to analyst estimates of $170.02 million. GoPro had a negative return on equity of 24.57% and a negative net margin of 42.19%. The company’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.13) EPS. Analysts expect that GoPro will post -0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On GoPro

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC boosted its holdings in shares of GoPro by 109.7% in the 2nd quarter. Acadian Asset Management LLC now owns 4,415,441 shares of the company’s stock worth $6,267,000 after purchasing an additional 2,309,500 shares in the last quarter. Greenlight Capital Inc. boosted its holdings in shares of GoPro by 6.3% in the 4th quarter. Greenlight Capital Inc. now owns 2,823,100 shares of the company’s stock worth $9,796,000 after purchasing an additional 166,640 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in GoPro by 13.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,677,795 shares of the company’s stock valued at $5,822,000 after acquiring an additional 197,046 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in GoPro by 396.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 523,745 shares of the company’s stock valued at $744,000 after acquiring an additional 418,288 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in GoPro by 13.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 452,395 shares of the company’s stock valued at $642,000 after acquiring an additional 53,614 shares during the period. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

GoPro Company Profile

GoPro, Inc develops and sells cameras, mountable and wearable accessories, and subscription services and software in the Americas, Europe, the Middle East, Africa, the Asia and Pacific region, and internationally. The company provides cloud connected HERO12 Black, HERO11 Black, HERO11 Black Mini, HERO10 Black, HERO10 Black Bones, and HERO9 Black waterproof cameras; MAX, a 360-degree waterproof camera; Premium and Premium+ subscription services, which include full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription that offers access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik desktop and mobile apps that enable users to get their favorite photos and videos with footage from any phone or camera.