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

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

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

GoPro Stock Performance

Shares of GPRO stock opened at $0.76 on Monday. GoPro has a 52-week low of $0.64 and a 52-week high of $2.32. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. The stock has a market cap of $117.82 million, a PE ratio of -0.27 and a beta of 1.62. The business has a 50-day simple moving average of $0.86 and a 200-day simple moving average of $1.12.

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

Hedge Funds Weigh In On GoPro

Hedge funds have recently bought and sold shares of the business. Intech Investment Management LLC purchased a new stake in shares of GoPro in the third quarter valued at approximately $35,000. Prentice Capital Management LP lifted its position in shares of GoPro by 430.4% during the 3rd quarter. Prentice Capital Management LP now owns 75,362 shares of the company’s stock valued at $102,000 after buying an additional 61,154 shares in the last quarter. State Street Corp grew its stake in 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 acquiring an additional 11,454 shares during the period. Jane Street Group LLC increased its holdings in GoPro by 63.4% in the 3rd 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 in the last quarter. Finally, Barclays PLC raised its position in GoPro by 4.0% during the third quarter. Barclays PLC now owns 628,791 shares of the company’s stock worth $855,000 after acquiring an additional 24,044 shares during the period. Hedge funds and other 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.