GoPro, Inc. (NASDAQ:GPRO) Short Interest Down 6.7% in August

GoPro, Inc. (NASDAQ:GPRO) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 6,840,000 shares, a decline of 6.7% from the August 15th total of 7,330,000 shares. Based on an average trading volume of 1,690,000 shares, the short-interest ratio is presently 4.0 days. Currently, 5.6% of the shares of the company are sold short.

GoPro Stock Performance

NASDAQ:GPRO opened at $1.34 on Thursday. The firm’s fifty day simple moving average is $1.38 and its 200-day simple moving average is $1.63. The company has a quick ratio of 1.07, a current ratio of 1.47 and a debt-to-equity ratio of 0.50. The stock has a market cap of $200.86 million, a PE ratio of -0.56 and a beta of 1.56. GoPro has a fifty-two week low of $1.16 and a fifty-two week high of $3.80.

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

Hedge Funds Weigh In On GoPro

Several hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its position in GoPro by 419.8% during the fourth quarter. Quadrant Capital Group LLC now owns 7,402 shares of the company’s stock worth $26,000 after purchasing an additional 5,978 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of GoPro by 19.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,609 shares of the company’s stock worth $80,000 after buying an additional 9,337 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of GoPro by 2.7% in the 1st quarter. Russell Investments Group Ltd. now owns 368,597 shares of the company’s stock worth $822,000 after buying an additional 9,727 shares in the last quarter. Innealta Capital LLC acquired a new stake in GoPro in the 4th quarter valued at about $38,000. Finally, Versant Capital Management Inc increased its holdings 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. 70.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GPRO shares. Wedbush cut their price target on shares of GoPro from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday, August 7th. StockNews.com raised GoPro from a “sell” rating to a “hold” rating in a research note on Friday, September 13th.

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.