GoPro Inc (NASDAQ:GPRO)’s share price rose 5.6% during mid-day trading on Thursday . The company traded as high as $6.24 and last traded at $6.19. Approximately 7,093,855 shares were traded during mid-day trading, an increase of 68% from the average daily volume of 4,233,338 shares. The stock had previously closed at $5.86.
GPRO has been the topic of a number of analyst reports. Zacks Investment Research cut shares of GoPro from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. BidaskClub cut shares of GoPro from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 12th. Wedbush reiterated a “neutral” rating and set a $6.00 price target on shares of GoPro in a research report on Friday, July 27th. ValuEngine cut shares of GoPro from a “sell” rating to a “strong sell” rating in a research report on Monday, July 30th. Finally, JPMorgan Chase & Co. set a $7.00 price target on shares of GoPro and gave the company a “hold” rating in a research report on Tuesday, July 31st. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $7.05.
The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -6.10 and a beta of 0.21. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.49.
GoPro (NASDAQ:GPRO) last announced its quarterly earnings data on Thursday, August 2nd. The company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.07. The business had revenue of $282.70 million for the quarter, compared to analysts’ expectations of $270.27 million. GoPro had a negative net margin of 13.47% and a negative return on equity of 47.64%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) earnings per share. Analysts forecast that GoPro Inc will post -0.54 earnings per share for the current fiscal year.
In other GoPro news, CFO Brian Mcgee sold 5,452 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $5.86, for a total value of $31,948.72. Following the sale, the chief financial officer now owns 108,411 shares in the company, valued at $635,288.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 26.61% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in GoPro by 9.1% in the first quarter. BlackRock Inc. now owns 7,516,464 shares of the company’s stock worth $36,004,000 after purchasing an additional 629,370 shares during the period. BlueMountain Capital Management LLC grew its holdings in GoPro by 168.6% in the second quarter. BlueMountain Capital Management LLC now owns 54,903 shares of the company’s stock worth $354,000 after purchasing an additional 34,460 shares during the period. Trexquant Investment LP purchased a new stake in GoPro in the second quarter worth about $336,000. Cim Investment Mangement Inc. grew its holdings in GoPro by 80.1% in the second quarter. Cim Investment Mangement Inc. now owns 54,190 shares of the company’s stock worth $349,000 after purchasing an additional 24,105 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in GoPro in the second quarter worth about $172,000. Institutional investors and hedge funds own 30.88% of the company’s stock.
GoPro Company Profile (NASDAQ:GPRO)
GoPro, Inc develops and sells cameras, and mountable and wearable accessories in the United States and internationally. The company offers HERO5 and HERO6, which are cloud-connected line of cameras; Fusion, a waterproof spherical camera; GoPro Plus, a cloud-based storage solution that enables subscribers to access, edit, and share content; Quik, a mobile editing app, as well as desktop app for editing options for power users; GoPro App, a mobile app that allows users to preview and play back photos and videos, control GoPro cameras, and share content; and Karma Grip, a handheld or body-mountable camera stabilizer that capture zero-shake smooth video.
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