GoPro’s (GPRO) “Neutral” Rating Reiterated at Wedbush

GoPro (NASDAQ:GPRO)‘s stock had its “neutral” rating restated by research analysts at Wedbush in a report released on Wednesday, Benzinga reports. They currently have a $2.00 target price on the stock. Wedbush’s price objective would indicate a potential upside of 17.65% from the company’s previous close.

GoPro Trading Down 7.6 %

Shares of NASDAQ:GPRO traded down $0.14 during midday trading on Wednesday, reaching $1.70. The company’s stock had a trading volume of 1,696,710 shares, compared to its average volume of 1,861,563. GoPro has a 1 year low of $1.65 and a 1 year high of $4.45. The business has a 50 day moving average price of $2.06 and a 200 day moving average price of $2.74. The company has a quick ratio of 1.35, a current ratio of 1.73 and a debt-to-equity ratio of 0.17. The firm has a market cap of $254.83 million, a price-to-earnings ratio of -5.00 and a beta of 1.50.

GoPro (NASDAQ:GPRO) last posted its quarterly earnings results on Wednesday, February 7th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. GoPro had a negative return on equity of 11.66% and a negative net margin of 5.29%. The company had revenue of $295.42 million during the quarter, compared to the consensus estimate of $326.99 million. Research analysts forecast that GoPro will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Thompson Siegel & Walmsley LLC boosted its holdings in shares of GoPro by 35.4% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,612,554 shares of the company’s stock worth $5,063,000 after buying an additional 421,292 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of GoPro in the 1st quarter worth approximately $655,000. Charles Schwab Investment Management Inc. grew its position in GoPro by 18.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,480,749 shares of the company’s stock valued at $4,650,000 after purchasing an additional 231,018 shares during the last quarter. Caxton Associates LP boosted its stake in shares of GoPro by 129.8% in the 3rd quarter. Caxton Associates LP now owns 350,450 shares of the company’s stock worth $1,100,000 after buying an additional 197,915 shares during the last quarter. Finally, Greenlight Capital Inc. boosted its holdings in GoPro by 6.3% in the 4th quarter. Greenlight Capital Inc. now owns 2,823,100 shares of the company’s stock worth $9,796,000 after buying an additional 166,640 shares during the period. 70.09% of the stock is 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.