GoPro (NASDAQ:GPRO) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of GoPro (NASDAQ:GPRO) from a strong sell rating to a sell rating in a report issued on Sunday.

Separately, Weiss Ratings raised shares of GoPro from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, GoPro currently has an average rating of “Sell”.

GoPro Stock Performance

Shares of GPRO stock opened at $0.63 on Friday. The stock has a market cap of $116.23 million, a price-to-earnings ratio of -0.64 and a beta of 2.42. The company has a quick ratio of 0.35, a current ratio of 0.57 and a debt-to-equity ratio of 0.58. GoPro has a fifty-two week low of $0.57 and a fifty-two week high of $3.05. The firm’s 50 day moving average price is $0.71 and its two-hundred day moving average price is $0.88.

GoPro (NASDAQ:GPRO) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.23). GoPro had a negative return on equity of 411.41% and a negative net margin of 28.52%.The business had revenue of $104.93 million for the quarter, compared to analysts’ expectations of $151.47 million. On average, analysts anticipate that GoPro will post -0.81 EPS for the current year.

Hedge Funds Weigh In On GoPro

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jefferies Financial Group Inc. acquired a new stake in GoPro in the third quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd raised its stake in shares of GoPro by 1,295,800.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 12,959 shares of the company’s stock valued at $27,000 after purchasing an additional 12,958 shares during the period. Kestra Private Wealth Services LLC acquired a new position in shares of GoPro during the third quarter worth $32,000. Scientech Research LLC acquired a new position in shares of GoPro during the third quarter worth $36,000. Finally, Sender Co & Partners Inc. acquired a new position in shares of GoPro during the third quarter worth $55,000. 70.09% of the stock is owned by institutional investors and hedge funds.

About GoPro

GoPro, Inc (NASDAQ: GPRO) is an American technology company specializing in the design and manufacture of compact, high-definition cameras and related accessories. Headquartered in San Mateo, California, GoPro’s product lineup is centered on its flagship HERO series of action cameras, which combine rugged construction, waterproof housings and advanced imaging capabilities. In addition to the HERO line, the company offers the MAX camera for 360-degree video capture, along with an array of mounts, grips and protective cases to support use in extreme sports, travel and professional video production.

Since its founding in 2002 by Nicholas Woodman, who continues to serve as chief executive officer, GoPro has expanded beyond hardware into software and cloud-based services.