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

StockNews.com upgraded shares of GoPro (NASDAQ:GPRO) from a sell rating to a hold rating in a research note published on Monday.

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

GoPro Stock Performance

GPRO stock opened at $0.81 on Monday. GoPro has a twelve month low of $0.64 and a twelve month high of $2.38. The firm has a market cap of $125.59 million, a price-to-earnings ratio of -0.29 and a beta of 1.62. The business’s fifty day simple moving average is $0.87 and its two-hundred day simple moving average is $1.12. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.51.

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

Hedge Funds Weigh In On GoPro

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in GoPro in the third quarter worth about $35,000. Prentice Capital Management LP raised its holdings in shares of GoPro by 430.4% in the 3rd quarter. Prentice Capital Management LP now owns 75,362 shares of the company’s stock valued at $102,000 after purchasing an additional 61,154 shares in the last quarter. State Street Corp lifted its position in shares of GoPro by 0.5% in the 3rd quarter. State Street Corp now owns 2,533,952 shares of the company’s stock worth $3,446,000 after purchasing an additional 11,454 shares during the period. Jane Street Group LLC boosted its stake in shares of GoPro by 63.4% during the third quarter. Jane Street Group LLC now owns 493,421 shares of the company’s stock valued at $671,000 after purchasing an additional 191,487 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of GoPro by 4.0% during the third quarter. Barclays PLC now owns 628,791 shares of the company’s stock valued at $855,000 after purchasing an additional 24,044 shares in the last quarter. Institutional investors own 70.09% of the company’s stock.

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.