GoPro, Inc. (NASDAQ:GPRO) Short Interest Up 58.6% in February

GoPro, Inc. (NASDAQ:GPRO) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 7,520,000 shares, a growth of 58.6% from the January 31st total of 4,740,000 shares. Based on an average daily trading volume, of 2,410,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 6.0% of the company’s stock are sold short.

GoPro Stock Performance

Shares of GPRO traded up $0.01 on Tuesday, reaching $0.73. 3,095,857 shares of the company’s stock traded hands, compared to its average volume of 2,925,937. The stock’s 50 day simple moving average is $0.98 and its two-hundred day simple moving average is $1.18. The stock has a market cap of $112.98 million, a PE ratio of -0.26 and a beta of 1.51. GoPro has a 52-week low of $0.68 and a 52-week high of $2.40. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51.

GoPro (NASDAQ:GPRO) last released its earnings results on Thursday, February 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates 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, analysts forecast that GoPro will post -0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in GoPro by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 2,923,899 shares of the company’s stock worth $3,187,000 after buying an additional 50,834 shares during the last quarter. GSA Capital Partners LLP increased its holdings 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 acquiring an additional 1,523,183 shares during the last quarter. State Street Corp raised 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. Two Sigma Investments LP lifted its holdings in GoPro by 4.2% during the fourth quarter. Two Sigma Investments LP now owns 1,510,166 shares of the company’s stock valued at $1,646,000 after purchasing an additional 61,484 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in GoPro by 14.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,310,400 shares of the company’s stock valued at $1,428,000 after purchasing an additional 164,600 shares during the last quarter. 70.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on GPRO. Wedbush restated a “neutral” rating and set a $1.50 price objective on shares of GoPro in a research note on Friday, January 31st. StockNews.com cut shares of GoPro from a “hold” rating to a “sell” rating in a report on Friday.

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.