GoPro, Inc. (NASDAQ:GPRO) Sees Large Drop in Short Interest

GoPro, Inc. (NASDAQ:GPRO) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 6,620,000 shares, a decrease of 6.8% from the March 15th total of 7,100,000 shares. Currently, 5.5% of the company’s shares are short sold. Based on an average daily trading volume, of 1,840,000 shares, the days-to-cover ratio is presently 3.6 days.

Hedge Funds Weigh In On GoPro

Several large investors have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its stake in GoPro by 6.3% during the 1st quarter. Versant Capital Management Inc now owns 188,708 shares of the company’s stock valued at $421,000 after acquiring an additional 11,209 shares in the last quarter. Vanguard Group Inc. lifted its stake in GoPro by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,305,200 shares of the company’s stock valued at $42,699,000 after acquiring an additional 55,859 shares in the last quarter. Virtu Financial LLC bought a new position in GoPro during the 4th quarter valued at $86,000. Price T Rowe Associates Inc. MD lifted its stake in GoPro by 29.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 114,493 shares of the company’s stock valued at $398,000 after acquiring an additional 25,832 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of GoPro by 7.4% during the 4th quarter. Barclays PLC now owns 1,203,714 shares of the company’s stock worth $4,175,000 after purchasing an additional 83,214 shares during the period. 70.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wedbush reissued a “neutral” rating and set a $2.00 target price on shares of GoPro in a research report on Wednesday, March 27th.

GoPro Stock Up 2.0 %

Shares of GPRO traded up $0.04 during trading hours on Wednesday, reaching $1.81. The stock had a trading volume of 2,488,618 shares, compared to its average volume of 1,878,729. GoPro has a 12 month low of $1.68 and a 12 month high of $4.73. The firm has a 50-day simple moving average of $2.24 and a 200 day simple moving average of $2.85. The company has a current ratio of 1.73, a quick ratio of 1.35 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $270.56 million, a price-to-earnings ratio of -5.28 and a beta of 1.43.

GoPro (NASDAQ:GPRO) last issued its earnings results on Wednesday, February 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. GoPro had a negative return on equity of 11.66% and a negative net margin of 5.29%. The company had revenue of $295.42 million for the quarter, compared to analysts’ expectations of $326.99 million. Equities research analysts predict that GoPro will post -0.38 earnings per share for the current fiscal year.

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.