GoPro (NASDAQ:GPRO) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

GoPro, Inc. (NASDAQ:GPRO) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.82 and traded as high as $0.93. GoPro shares last traded at $0.91, with a volume of 8,719,573 shares changing hands.

Analyst Ratings Changes

Several analysts have issued reports on GPRO shares. Wall Street Zen upgraded GoPro from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Wedbush restated a “neutral” rating and set a $0.75 price objective (down previously from $1.00) on shares of GoPro in a report on Tuesday, May 13th.

GoPro Trading Up 4.4%

The company has a fifty day simple moving average of $0.65 and a 200-day simple moving average of $0.82. The stock has a market cap of $143.02 million, a price-to-earnings ratio of -1.01 and a beta of 1.35.

Hedge Funds Weigh In On GoPro

A number of large investors have recently made changes to their positions in GPRO. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of GoPro by 4.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 515,494 shares of the company’s stock valued at $562,000 after purchasing an additional 20,141 shares during the period. Picton Mahoney Asset Management increased its holdings in shares of GoPro by 77.4% in the 4th quarter. Picton Mahoney Asset Management now owns 27,908 shares of the company’s stock valued at $30,000 after purchasing an additional 12,172 shares during the period. Intech Investment Management LLC increased its holdings in shares of GoPro by 123.3% in the 4th quarter. Intech Investment Management LLC now owns 57,924 shares of the company’s stock valued at $63,000 after purchasing an additional 31,985 shares during the period. Virtu Financial LLC acquired a new position in shares of GoPro in the 4th quarter valued at about $105,000. Finally, Geode Capital Management LLC increased its holdings in shares of GoPro by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 2,923,899 shares of the company’s stock valued at $3,187,000 after purchasing an additional 50,834 shares during the period. Institutional investors and hedge funds 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.