GoPro (NASDAQ:GPRO) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of GoPro (NASDAQ:GPRO) from a sell rating to a hold rating in a research report sent to investors on Friday.

Separately, Wedbush dropped their price target on shares of GoPro from $2.00 to $1.50 and set a neutral rating for the company in a research report on Wednesday, August 7th.

GoPro Stock Down 0.7 %

Shares of NASDAQ:GPRO opened at $1.34 on Friday. The stock has a market capitalization of $200.86 million, a P/E ratio of -0.56 and a beta of 1.56. The stock’s 50-day moving average price is $1.38 and its 200-day moving average price is $1.64. The company has a current ratio of 1.47, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. GoPro has a 12-month low of $1.16 and a 12-month high of $3.80.

GoPro (NASDAQ:GPRO) last issued its earnings results on Tuesday, August 6th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.01. The company had revenue of $186.22 million during the quarter, compared to analysts’ expectations of $170.02 million. GoPro had a negative return on equity of 24.57% and a negative net margin of 42.19%. GoPro’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.13) EPS. On average, equities analysts anticipate that GoPro will post -0.67 earnings per share for the current year.

Institutional Investors Weigh In On GoPro

A number of large investors have recently made changes to their positions in GPRO. Quadrant Capital Group LLC lifted its stake in GoPro by 419.8% in the fourth quarter. Quadrant Capital Group LLC now owns 7,402 shares of the company’s stock worth $26,000 after acquiring an additional 5,978 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of GoPro by 19.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,609 shares of the company’s stock worth $80,000 after purchasing an additional 9,337 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of GoPro by 2.7% during the 1st quarter. Russell Investments Group Ltd. now owns 368,597 shares of the company’s stock valued at $822,000 after purchasing an additional 9,727 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of GoPro during the fourth quarter valued at about $38,000. Finally, Versant Capital Management Inc raised its stake in GoPro by 6.3% in the first quarter. Versant Capital Management Inc now owns 188,708 shares of the company’s stock worth $421,000 after buying an additional 11,209 shares in the last quarter. 70.09% of the stock is currently owned by institutional investors.

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.