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

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

Separately, Wedbush reaffirmed a “neutral” rating and issued a $1.50 target price on shares of GoPro in a research report on Friday, January 31st.

GoPro Trading Up 2.2 %

Shares of GPRO opened at $0.74 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $113.95 million, a P/E ratio of -0.26 and a beta of 1.62. The stock’s fifty day simple moving average is $0.95 and its 200 day simple moving average is $1.16. GoPro has a twelve month low of $0.68 and a twelve month high of $2.40.

GoPro (NASDAQ:GPRO) last issued its earnings results on Thursday, February 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.12). GoPro had a negative return on equity of 55.77% and a negative net margin of 53.94%. On average, equities research analysts forecast that GoPro will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. RIA Advisory Group LLC purchased a new position in GoPro in the third quarter valued at about $27,000. Tower Research Capital LLC TRC raised its position in GoPro by 153.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 23,905 shares of the company’s stock valued at $26,000 after purchasing an additional 14,485 shares during the period. R Squared Ltd purchased a new position in GoPro in the fourth quarter valued at about $27,000. Intech Investment Management LLC purchased a new position in GoPro in the third quarter valued at about $35,000. Finally, Picton Mahoney Asset Management raised its position in GoPro by 77.4% in the fourth quarter. Picton Mahoney Asset Management now owns 27,908 shares of the company’s stock valued at $30,000 after purchasing an additional 12,172 shares during the period. 70.09% of the stock is owned by hedge funds and other institutional investors.

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.