GoPro (NASDAQ:GPRO) Share Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

GoPro, Inc. (NASDAQ:GPRO) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $0.94 and traded as high as $1.3550. GoPro shares last traded at $1.33, with a volume of 10,279,015 shares trading hands.

Analysts Set New Price Targets

A number of research firms have commented on GPRO. Weiss Ratings upgraded GoPro from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 20th. Zacks Research downgraded GoPro from a “hold” rating to a “strong sell” rating in a research note on Friday, August 21st. Finally, Wall Street Zen raised shares of GoPro from a “strong sell” rating to a “sell” rating in a research note on Sunday, August 23rd. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

GoPro Trading Down 0.8%

The firm has a market cap of $242.62 million, a price-to-earnings ratio of -1.33 and a beta of 2.45. The business has a 50 day moving average of $0.97 and a 200 day moving average of $0.94. 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 (NASDAQ:GPRO) last released its earnings results on Monday, August 10th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.23). The firm had revenue of $104.93 million during the quarter, compared to analysts’ expectations of $151.47 million. GoPro had a negative net margin of 28.52% and a negative return on equity of 411.41%. On average, research analysts forecast that GoPro, Inc. will post -0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GoPro

Hedge funds have recently made changes to their positions in the business. Jefferies Financial Group Inc. increased its stake in GoPro by 88.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 23,794 shares of the company’s stock valued at $34,000 after purchasing an additional 11,194 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in GoPro by 615.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 92,665 shares of the company’s stock valued at $131,000 after buying an additional 79,706 shares during the period. R Squared Ltd grew its holdings in GoPro by 49.4% in the 1st quarter. R Squared Ltd now owns 97,067 shares of the company’s stock valued at $75,000 after buying an additional 32,113 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of GoPro by 10.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 149,341 shares of the company’s stock valued at $115,000 after acquiring an additional 14,324 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of GoPro by 27.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 162,535 shares of the company’s stock valued at $125,000 after acquiring an additional 34,961 shares during the last quarter. Institutional investors and hedge funds own 70.09% of the company’s stock.

GoPro Company Profile

GoPro, Inc is a technology company that develops and sells cameras, accessories and software designed to help consumers and professionals capture and share photos and videos. Its products are commonly used for action sports, travel, outdoor recreation and other activities that benefit from compact, durable recording equipment.

The company’s product portfolio includes HERO cameras, MAX 360-degree cameras, camera mounts and other accessories. GoPro also offers the Quik mobile and desktop application, which provides tools for organizing, editing and sharing content.