GoPro’s (GPRO) “Neutral” Rating Reaffirmed at Wedbush

Wedbush reissued their neutral rating on shares of GoPro (NASDAQ:GPRO) in a research note released on Wednesday, Marketbeat.com reports. The brokerage currently has a $2.00 price target on the stock.

GoPro Stock Performance

GoPro stock traded up $0.01 during mid-day trading on Wednesday, hitting $1.72. The company had a trading volume of 277,204 shares, compared to its average volume of 1,860,256. The company has a market capitalization of $257.08 million, a price-to-earnings ratio of -5.01 and a beta of 1.50. GoPro has a 12-month low of $1.65 and a 12-month high of $4.45. The company’s fifty day moving average is $2.05 and its 200-day moving average is $2.73. The company has a current ratio of 1.73, a quick ratio of 1.35 and a debt-to-equity ratio of 0.17.

GoPro (NASDAQ:GPRO) last released its quarterly earnings results on Wednesday, February 7th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $295.42 million for the quarter, compared to analyst estimates of $326.99 million. GoPro had a negative net margin of 5.29% and a negative return on equity of 11.66%. Equities research analysts predict that GoPro will post -0.38 EPS for the current year.

Hedge Funds Weigh In On GoPro

A number of large investors have recently bought and sold shares of GPRO. SG Americas Securities LLC acquired a new position in shares of GoPro during the 3rd quarter worth approximately $182,000. Principal Financial Group Inc. lifted its holdings in GoPro by 39.3% during the third quarter. Principal Financial Group Inc. now owns 19,410 shares of the company’s stock valued at $61,000 after purchasing an additional 5,476 shares in the last quarter. Jump Financial LLC increased its position in shares of GoPro by 153.4% during the third quarter. Jump Financial LLC now owns 212,183 shares of the company’s stock worth $666,000 after purchasing an additional 128,442 shares in the last quarter. Barclays PLC lifted its holdings in GoPro by 15.4% in the 3rd quarter. Barclays PLC now owns 1,120,500 shares of the company’s stock valued at $3,517,000 after purchasing an additional 149,369 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in GoPro by 80.2% during the 3rd quarter. Quantbot Technologies LP now owns 38,187 shares of the company’s stock worth $120,000 after purchasing an additional 16,992 shares during the last quarter. 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.