GoPro (NASDAQ:GPRO) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

GoPro, Inc. (NASDAQ:GPRO) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $0.98 and traded as low as $0.9224. GoPro shares last traded at $0.93, with a volume of 10,138,877 shares.

Wall Street Analysts Forecast Growth

GPRO has been the subject of a number of research reports. Zacks Research upgraded GoPro from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Wall Street Zen upgraded GoPro from a “strong sell” rating to a “sell” rating in a report on Sunday, August 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of GoPro in a report on Friday, October 16th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, GoPro presently has a consensus rating of “Reduce”.

GoPro Stock Down 7.0%

The firm has a market capitalization of $171.59 million, a P/E ratio of -0.94 and a beta of 2.43. The business’s 50 day moving average is $1.16 and its two-hundred day moving average is $0.98.

GoPro (NASDAQ:GPRO) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.23). GoPro had a negative net margin of 28.52% and a negative return on equity of 381.63%. The firm had revenue of $104.93 million for the quarter, compared to analyst estimates of $151.47 million. As a group, equities analysts anticipate that GoPro, Inc. will post -0.81 earnings per share for the current fiscal year.

Institutional Trading of GoPro

A number of institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC increased its holdings in shares of GoPro by 137.1% in the first quarter. Renaissance Technologies LLC now owns 1,625,900 shares of the company’s stock valued at $1,252,000 after purchasing an additional 940,300 shares in the last quarter. OMERS ADMINISTRATION Corp raised its stake in GoPro by 59.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 265,800 shares of the company’s stock worth $205,000 after purchasing an additional 99,100 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in GoPro by 27.4% in the first quarter. Assenagon Asset Management S.A. now owns 162,535 shares of the company’s stock valued at $125,000 after buying an additional 34,961 shares in the last quarter. R Squared Ltd raised its stake in shares of GoPro by 49.4% during the first quarter. R Squared Ltd now owns 97,067 shares of the company’s stock valued at $75,000 after acquiring an additional 32,113 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in GoPro by 10.6% in the first quarter. Public Employees Retirement System of Ohio now owns 149,341 shares of the company’s stock valued at $115,000 after buying an additional 14,324 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, accessories and software designed to help consumers and professionals capture and share photos and video, particularly in action, travel, sports and outdoor settings. Its product portfolio includes compact HERO cameras, the MAX 360-degree camera and related mounts, grips, cases, lighting products and other accessories.

The company also provides subscription-based services that complement its hardware, including cloud storage, automatic media backup, editing tools, premium features and other benefits.