GoPro, Inc. (NASDAQ:GPRO) Sees Significant Increase in Short Interest

GoPro, Inc. (NASDAQ:GPRO) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 7,520,000 shares, a growth of 58.6% from the January 31st total of 4,740,000 shares. Currently, 6.0% of the company’s stock are sold short. Based on an average daily volume of 2,410,000 shares, the days-to-cover ratio is presently 3.1 days.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GPRO. Wedbush reaffirmed a “neutral” rating and set a $1.50 price target on shares of GoPro in a research note on Friday, January 31st. StockNews.com cut GoPro from a “hold” rating to a “sell” rating in a research note on Friday.

GoPro Stock Down 3.1 %

Shares of GPRO stock traded down $0.02 during mid-day trading on Monday, reaching $0.72. 2,748,160 shares of the company were exchanged, compared to its average volume of 2,923,477. The company has a market capitalization of $111.88 million, a P/E ratio of -0.25 and a beta of 1.51. The business’s 50 day simple moving average is $0.98 and its 200 day simple moving average is $1.18. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.32. GoPro has a fifty-two week low of $0.72 and a fifty-two week high of $2.40.

GoPro (NASDAQ:GPRO) last issued its earnings results on Thursday, February 6th. The company reported ($0.13) EPS 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%. Research analysts predict that GoPro will post -0.25 earnings per share for the current year.

Hedge Funds Weigh In On GoPro

A number of large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio acquired a new stake in GoPro in the fourth quarter worth $191,000. Squarepoint Ops LLC bought a new position in shares of GoPro during the fourth quarter worth about $42,000. Two Sigma Investments LP increased its holdings in shares of GoPro by 4.2% in the 4th quarter. Two Sigma Investments LP now owns 1,510,166 shares of the company’s stock worth $1,646,000 after acquiring an additional 61,484 shares during the period. Graham Capital Management L.P. lifted its position in GoPro by 566.8% in the 4th quarter. Graham Capital Management L.P. now owns 72,253 shares of the company’s stock valued at $79,000 after purchasing an additional 61,418 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in GoPro by 110.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 721,900 shares of the company’s stock valued at $787,000 after purchasing an additional 379,500 shares during the period. Institutional investors own 70.09% of the company’s stock.

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.