GoPro (NASDAQ:GPRO) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of GoPro (NASDAQ:GPRO) from a sell rating to a hold rating in a research report released on Wednesday morning.

Separately, Wedbush reduced their price target on shares of GoPro from $2.00 to $1.50 and set a neutral rating for the company in a report on Wednesday, August 7th.

GoPro Stock Down 3.2 %

Shares of GoPro stock opened at $1.22 on Wednesday. The stock’s 50-day moving average is $1.39 and its 200 day moving average is $1.69. GoPro has a one year low of $1.16 and a one year high of $3.80. The firm has a market cap of $182.87 million, a price-to-earnings ratio of -0.51 and a beta of 1.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.47 and a quick ratio of 1.07.

GoPro (NASDAQ:GPRO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.01. The firm had revenue of $186.22 million for the quarter, compared to analyst estimates of $170.02 million. GoPro had a negative return on equity of 24.57% and a negative net margin of 42.19%. The company’s revenue was down 22.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.13) earnings per share. Equities research analysts anticipate that GoPro will post -0.67 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its holdings in shares of GoPro by 109.7% during the second quarter. Acadian Asset Management LLC now owns 4,415,441 shares of the company’s stock valued at $6,267,000 after acquiring an additional 2,309,500 shares in the last quarter. Greenlight Capital Inc. increased its stake in GoPro by 6.3% during the 4th quarter. Greenlight Capital Inc. now owns 2,823,100 shares of the company’s stock valued at $9,796,000 after purchasing an additional 166,640 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in GoPro by 13.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,677,795 shares of the company’s stock valued at $5,822,000 after purchasing an additional 197,046 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in GoPro by 396.6% during the second quarter. Cubist Systematic Strategies LLC now owns 523,745 shares of the company’s stock worth $744,000 after buying an additional 418,288 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of GoPro by 13.4% in the second quarter. Bank of New York Mellon Corp now owns 452,395 shares of the company’s stock valued at $642,000 after buying an additional 53,614 shares in the last quarter. Institutional investors 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.