GoPro, Inc. (NASDAQ:GPRO) Short Interest Down 8.9% in October

GoPro, Inc. (NASDAQ:GPRO) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 5,720,000 shares, a decrease of 8.9% from the October 15th total of 6,280,000 shares. Based on an average trading volume of 1,230,000 shares, the days-to-cover ratio is currently 4.7 days. Currently, 4.7% of the company’s shares are short sold.

Institutional Investors Weigh In On GoPro

Institutional investors have recently added to or reduced their stakes in the stock. RIA Advisory Group LLC acquired a new stake in shares of GoPro in the 3rd quarter valued at about $27,000. Oak Thistle LLC acquired a new stake in GoPro in the 2nd quarter valued at approximately $32,000. Point72 DIFC Ltd bought a new stake in GoPro in the 2nd quarter valued at approximately $33,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in GoPro by 316.9% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 24,991 shares of the company’s stock valued at $35,000 after acquiring an additional 18,996 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in GoPro during the 3rd quarter worth approximately $35,000. 70.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on GPRO shares. Wedbush reissued a “neutral” rating and set a $1.50 price objective on shares of GoPro in a research note on Wednesday, November 6th. StockNews.com upgraded GoPro from a “sell” rating to a “hold” rating in a report on Friday, September 13th.

GoPro Stock Down 1.7 %

Shares of GoPro stock traded down $0.02 on Monday, hitting $1.19. The company had a trading volume of 2,518,515 shares, compared to its average volume of 1,726,051. The stock has a 50-day moving average of $1.34 and a 200-day moving average of $1.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 0.87. GoPro has a twelve month low of $1.16 and a twelve month high of $3.80. The firm has a market capitalization of $181.75 million, a P/E ratio of -0.45 and a beta of 1.56.

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.