GoPro, Inc. (NASDAQ:GPRO) Short Interest Update

GoPro, Inc. (NASDAQ:GPRO) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totalling 4,600,000 shares, a drop of 9.3% from the November 30th total of 5,070,000 shares. Based on an average daily volume of 1,520,000 shares, the days-to-cover ratio is currently 3.0 days. Approximately 3.7% of the company’s shares are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of GoPro by 13.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 452,395 shares of the company’s stock worth $642,000 after acquiring an additional 53,614 shares in the last quarter. Acadian Asset Management LLC increased its holdings in GoPro by 109.7% in the second quarter. Acadian Asset Management LLC now owns 4,415,441 shares of the company’s stock worth $6,267,000 after purchasing an additional 2,309,500 shares in the last quarter. Oak Thistle LLC acquired a new position in GoPro in the second quarter valued at approximately $32,000. XTX Topco Ltd lifted its stake in GoPro by 416.8% in the second quarter. XTX Topco Ltd now owns 146,382 shares of the company’s stock valued at $208,000 after buying an additional 118,059 shares during the period. Finally, Sei Investments Co. bought a new position in shares of GoPro during the 2nd quarter worth approximately $136,000. Institutional investors and hedge funds own 70.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GPRO. Wedbush restated a “neutral” rating and issued a $1.50 price target on shares of GoPro in a research report on Wednesday, November 6th. StockNews.com upgraded GoPro from a “sell” rating to a “hold” rating in a report on Friday, September 13th.

GoPro Trading Down 2.7 %

Shares of GoPro stock traded down $0.03 during midday trading on Wednesday, reaching $1.09. The company had a trading volume of 1,428,148 shares, compared to its average volume of 1,728,053. The firm has a market cap of $168.69 million, a PE ratio of -0.42 and a beta of 1.52. The stock has a fifty day moving average price of $1.26 and a 200 day moving average price of $1.32. 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 fifty-two week low of $1.07 and a fifty-two week high of $3.50.

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.