Wall Street Zen Downgrades GoPro (NASDAQ:GPRO) to Strong Sell

GoPro (NASDAQ:GPRO) was downgraded by research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings raised shares of GoPro from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, GoPro currently has an average rating of “Sell”.

GoPro Stock Performance

Shares of GPRO stock opened at $0.59 on Friday. GoPro has a 1 year low of $0.57 and a 1 year high of $3.05. The firm has a market capitalization of $109.78 million, a PE ratio of -0.60 and a beta of 2.42. The stock has a fifty day moving average of $0.73 and a two-hundred day moving average of $0.90. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.35 and a current ratio of 0.57.

GoPro (NASDAQ:GPRO) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.23). The business had revenue of $104.93 million for the quarter, compared to analyst estimates of $151.47 million. GoPro had a negative net margin of 28.52% and a negative return on equity of 411.41%.

Insider Activity

In other news, COO Brian Mcgee sold 130,631 shares of GoPro stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $0.97, for a total transaction of $126,712.07. Following the transaction, the chief operating officer directly owned 947,123 shares in the company, valued at approximately $918,709.31. This trade represents a 12.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 18.06% of the company’s stock.

Institutional Trading of GoPro

Several institutional investors have recently modified their holdings of GPRO. OMERS ADMINISTRATION Corp boosted its stake in GoPro by 59.4% during the first quarter. OMERS ADMINISTRATION Corp now owns 265,800 shares of the company’s stock valued at $205,000 after buying an additional 99,100 shares in the last quarter. Renaissance Technologies LLC grew its holdings in GoPro by 137.1% during the first quarter. Renaissance Technologies LLC now owns 1,625,900 shares of the company’s stock worth $1,252,000 after acquiring an additional 940,300 shares during the period. Public Employees Retirement System of Ohio raised its position in GoPro by 10.6% in the first quarter. Public Employees Retirement System of Ohio now owns 149,341 shares of the company’s stock worth $115,000 after acquiring an additional 14,324 shares in the last quarter. R Squared Ltd lifted 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 acquiring an additional 32,113 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in GoPro by 27.4% in 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.

About GoPro

GoPro, Inc (NASDAQ: GPRO) is an American technology company specializing in the design and manufacture of compact, high-definition cameras and related accessories. Headquartered in San Mateo, California, GoPro’s product lineup is centered on its flagship HERO series of action cameras, which combine rugged construction, waterproof housings and advanced imaging capabilities. In addition to the HERO line, the company offers the MAX camera for 360-degree video capture, along with an array of mounts, grips and protective cases to support use in extreme sports, travel and professional video production.

Since its founding in 2002 by Nicholas Woodman, who continues to serve as chief executive officer, GoPro has expanded beyond hardware into software and cloud-based services.