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

GoPro, Inc. (NASDAQ:GPRO) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 4,350,000 shares, a decrease of 5.4% from the December 15th total of 4,600,000 shares. Currently, 3.5% of the company’s stock are short sold. Based on an average trading volume of 1,590,000 shares, the days-to-cover ratio is currently 2.7 days.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued a “neutral” rating and issued a $1.50 target price on shares of GoPro in a report on Wednesday, November 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP grew its position in GoPro by 149.4% in the 3rd quarter. GSA Capital Partners LLP now owns 2,542,398 shares of the company’s stock worth $3,458,000 after purchasing an additional 1,523,183 shares during the period. Jane Street Group LLC grew its holdings in shares of GoPro by 63.4% in the third quarter. Jane Street Group LLC now owns 493,421 shares of the company’s stock worth $671,000 after acquiring an additional 191,487 shares during the period. Cubist Systematic Strategies LLC increased its position in GoPro by 396.6% during the second 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 last quarter. SG Americas Securities LLC lifted its holdings in GoPro by 15.6% in the third quarter. SG Americas Securities LLC now owns 115,176 shares of the company’s stock valued at $157,000 after acquiring an additional 15,541 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of GoPro by 19.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,609 shares of the company’s stock valued at $80,000 after purchasing an additional 9,337 shares during the period. Institutional investors own 70.09% of the company’s stock.

GoPro Price Performance

GPRO opened at $1.05 on Monday. The company’s 50-day simple moving average is $1.18 and its two-hundred day simple moving average is $1.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.32. The stock has a market capitalization of $162.50 million, a P/E ratio of -0.40 and a beta of 1.53. GoPro has a 52-week low of $1.03 and a 52-week high of $3.40.

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.