GoPro (NASDAQ:GPRO) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of GoPro (NASDAQ:GPRO) from a hold rating to a sell rating in a research note issued to investors on Monday morning.

Separately, Wedbush restated a “neutral” rating and issued a $1.50 target price on shares of GoPro in a research report on Friday, January 31st.

GoPro Trading Up 2.9 %

Shares of GPRO stock opened at $0.52 on Monday. The stock has a market cap of $81.67 million, a P/E ratio of -0.18 and a beta of 1.54. GoPro has a 1 year low of $0.45 and a 1 year high of $2.10. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $0.79 and a 200 day simple moving average of $1.08.

GoPro (NASDAQ:GPRO) last released its earnings results on Thursday, February 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.12). GoPro had a negative return on equity of 55.77% and a negative net margin of 53.94%. On average, research analysts predict that GoPro will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GoPro

Several hedge funds and other institutional investors have recently modified their holdings of GPRO. Jane Street Group LLC boosted its stake in GoPro by 63.4% in the third quarter. Jane Street Group LLC now owns 493,421 shares of the company’s stock valued at $671,000 after buying an additional 191,487 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of GoPro by 4.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 515,494 shares of the company’s stock worth $562,000 after acquiring an additional 20,141 shares during the last quarter. State Street Corp boosted its stake in shares of GoPro by 0.5% in the 3rd quarter. State Street Corp now owns 2,533,952 shares of the company’s stock valued at $3,446,000 after purchasing an additional 11,454 shares in the last quarter. Barclays PLC grew its holdings in shares of GoPro by 4.0% during the 3rd quarter. Barclays PLC now owns 628,791 shares of the company’s stock valued at $855,000 after purchasing an additional 24,044 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in GoPro during the 4th quarter worth approximately $105,000. Institutional investors own 70.09% of the company’s stock.

About GoPro

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.