GoPro (NASDAQ:GPRO) Given Neutral Rating at Wedbush

Wedbush reaffirmed their neutral rating on shares of GoPro (NASDAQ:GPRO) in a research note issued to investors on Wednesday morning,RTT News reports. The firm currently has a $1.50 price objective on the stock.

Separately, StockNews.com raised shares of GoPro from a “sell” rating to a “hold” rating in a research report on Friday, September 13th.

GoPro Price Performance

Shares of NASDAQ GPRO traded up $0.12 during trading hours on Wednesday, reaching $1.57. The stock had a trading volume of 4,179,718 shares, compared to its average volume of 1,025,807. GoPro has a 52-week low of $1.16 and a 52-week high of $3.80. The business’s fifty day moving average price is $1.32 and its two-hundred day moving average price is $1.44. The company has a quick ratio of 1.07, a current ratio of 1.47 and a debt-to-equity ratio of 0.50.

GoPro (NASDAQ:GPRO) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.01. GoPro had a negative return on equity of 24.57% and a negative net margin of 42.19%. The firm had revenue of $186.22 million for the quarter, compared to analyst estimates of $170.02 million. During the same quarter last year, the firm posted ($0.13) earnings per share. The business’s revenue for the quarter was down 22.7% on a year-over-year basis. On average, equities research analysts expect that GoPro will post -0.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GoPro

Large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its holdings in shares of GoPro by 109.7% in 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 last quarter. GSA Capital Partners LLP boosted its holdings in 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 during the last quarter. Cubist Systematic Strategies LLC grew its position in GoPro by 396.6% during 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. Susquehanna Fundamental Investments LLC acquired a new stake in GoPro during the 1st quarter worth about $655,000. Finally, BNP Paribas Financial Markets raised its stake in shares of GoPro by 312.4% during the 1st quarter. BNP Paribas Financial Markets now owns 156,199 shares of the company’s stock valued at $348,000 after buying an additional 118,322 shares during the last quarter. 70.09% of the stock is 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.