GoPro (NASDAQ:GPRO) Cut to “Sell” at StockNews.com

StockNews.com cut shares of GoPro (NASDAQ:GPRO) from a hold rating to a sell rating in a research note issued to investors on Thursday.

Separately, Wedbush cut 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 Trading Down 1.6 %

GoPro stock opened at $1.20 on Thursday. GoPro has a 12-month low of $1.16 and a 12-month high of $4.01. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.68 and a quick ratio of 1.08. The stock has a market capitalization of $179.88 million, a PE ratio of -0.50 and a beta of 1.61. The firm has a 50 day simple moving average of $1.46 and a 200-day simple moving average of $1.89.

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 analysts’ consensus estimates of ($0.25) by $0.01. GoPro had a negative return on equity of 14.66% and a negative net margin of 36.75%. The firm had revenue of $186.22 million during the quarter, compared to analyst estimates of $170.02 million. During the same period last year, the company posted ($0.13) EPS. The firm’s quarterly revenue was down 22.7% on a year-over-year basis. As a group, equities research analysts expect that GoPro will post -0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On GoPro

Several hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC raised its holdings in GoPro by 419.8% during the 4th quarter. Quadrant Capital Group LLC now owns 7,402 shares of the company’s stock worth $26,000 after buying an additional 5,978 shares during the period. CWM LLC lifted its position in shares of GoPro by 2,680.1% in the 4th quarter. CWM LLC now owns 9,091 shares of the company’s stock valued at $32,000 after acquiring an additional 8,764 shares in the last quarter. Innealta Capital LLC acquired a new position in GoPro in the 4th quarter worth approximately $38,000. RIA Advisory Group LLC purchased a new position in GoPro during the 1st quarter worth approximately $44,000. Finally, Oak Thistle LLC acquired a new stake in GoPro during the 2nd quarter valued at $32,000. 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.