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

GoPro, Inc. (NASDAQ:GPRO) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 4,350,000 shares, a decrease of 5.4% from the December 15th total of 4,600,000 shares. Based on an average daily trading volume, of 1,590,000 shares, the short-interest ratio is presently 2.7 days. Approximately 3.5% of the company’s shares are sold short.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its stake in shares of GoPro by 19.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,609 shares of the company’s stock valued at $80,000 after purchasing an additional 9,337 shares in the last quarter. State Street Corp lifted its holdings in GoPro by 0.5% in the third quarter. State Street Corp now owns 2,533,952 shares of the company’s stock worth $3,446,000 after buying an additional 11,454 shares during the period. SG Americas Securities LLC boosted its position in GoPro by 10.5% during the 4th quarter. SG Americas Securities LLC now owns 127,323 shares of the company’s stock valued at $139,000 after acquiring an additional 12,147 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of GoPro by 316.9% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 24,991 shares of the company’s stock worth $35,000 after acquiring an additional 18,996 shares during the period. Finally, RIA Advisory Group LLC bought a new position in shares of GoPro in the 3rd quarter worth approximately $27,000. 70.09% of the stock is owned by hedge funds and other institutional investors.

GoPro Price Performance

Shares of GPRO stock opened at $1.05 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.32. The firm has a market cap of $162.50 million, a P/E ratio of -0.40 and a beta of 1.53. The business’s 50 day moving average price is $1.18 and its 200-day moving average price is $1.30. GoPro has a fifty-two week low of $1.03 and a fifty-two week high of $3.40.

Wall Street Analysts Forecast Growth

Separately, Wedbush restated a “neutral” rating and issued a $1.50 price objective on shares of GoPro in a research report on Wednesday, November 6th.

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.