GoPro, Inc. (NASDAQ:GPRO) Sees Significant Drop in Short Interest

GoPro, Inc. (NASDAQ:GPRO) was the recipient of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 4,600,000 shares, a decrease of 9.3% from the November 30th total of 5,070,000 shares. Based on an average trading volume of 1,520,000 shares, the short-interest ratio is presently 3.0 days. Approximately 3.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

GPRO has been the topic of a number of research reports. Wedbush reaffirmed a “neutral” rating and issued a $1.50 price target on shares of GoPro in a report on Wednesday, November 6th. StockNews.com raised GoPro from a “sell” rating to a “hold” rating in a research report on Friday, September 13th.

GoPro Stock Performance

GoPro stock traded down $0.03 during midday trading on Wednesday, reaching $1.09. The stock had a trading volume of 1,428,148 shares, compared to its average volume of 1,728,053. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $168.69 million, a PE ratio of -0.42 and a beta of 1.52. GoPro has a 12 month low of $1.07 and a 12 month high of $3.50. The firm’s 50-day moving average price is $1.26 and its 200 day moving average price is $1.32.

Institutional Trading of GoPro

Institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC raised its holdings in GoPro by 109.7% during the 2nd 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 during the period. GSA Capital Partners LLP grew its position in shares of GoPro by 149.4% in the third quarter. GSA Capital Partners LLP now owns 2,542,398 shares of the company’s stock valued at $3,458,000 after purchasing an additional 1,523,183 shares in the last quarter. State Street Corp raised its stake in shares of GoPro by 0.5% during the 3rd quarter. State Street Corp now owns 2,533,952 shares of the company’s stock valued at $3,446,000 after purchasing an additional 11,454 shares during the period. Barclays PLC lifted its holdings in GoPro by 4.0% during the 3rd quarter. Barclays PLC now owns 628,791 shares of the company’s stock worth $855,000 after purchasing an additional 24,044 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in GoPro by 396.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 523,745 shares of the company’s stock worth $744,000 after purchasing an additional 418,288 shares during the period. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

GoPro Company Profile

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.