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

StockNews.com upgraded shares of GoPro (NASDAQ:GPRO) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, Wedbush reiterated a “neutral” rating and issued a $1.50 price target on shares of GoPro in a research note on Friday, January 31st.

GoPro Stock Up 2.2 %

Shares of NASDAQ GPRO opened at $0.74 on Friday. GoPro has a 1 year low of $0.68 and a 1 year high of $2.40. The firm has a market cap of $113.95 million, a price-to-earnings ratio of -0.26 and a beta of 1.62. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.32. The stock’s 50-day simple moving average is $0.95 and its 200-day simple moving average is $1.16.

GoPro (NASDAQ:GPRO) last announced its earnings results on Thursday, February 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12). GoPro had a negative return on equity of 55.77% and a negative net margin of 53.94%. As a group, equities analysts anticipate that GoPro will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GoPro

Hedge funds have recently bought and sold shares of the company. RIA Advisory Group LLC acquired a new position in GoPro in the third quarter worth about $27,000. Tower Research Capital LLC TRC boosted its stake in GoPro by 153.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 23,905 shares of the company’s stock valued at $26,000 after acquiring an additional 14,485 shares during the period. R Squared Ltd acquired a new position in GoPro in the fourth quarter valued at approximately $27,000. Intech Investment Management LLC acquired a new position in GoPro in the third quarter valued at approximately $35,000. Finally, Picton Mahoney Asset Management boosted its stake in GoPro by 77.4% in the fourth quarter. Picton Mahoney Asset Management now owns 27,908 shares of the company’s stock valued at $30,000 after acquiring an additional 12,172 shares during the period. 70.09% of the stock is currently owned by institutional investors and hedge funds.

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.