GoPro, Inc. (NASDAQ:GPRO) Sees Large Decrease in Short Interest

GoPro, Inc. (NASDAQ:GPRO - Get Free Report) saw a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 4,600,000 shares, a decrease of 9.3% from the November 30th total of 5,070,000 shares. Based on an average trading volume of 1,520,000 shares, the days-to-cover ratio is currently 3.0 days. Currently, 3.7% of the company's shares are sold short.

GoPro Stock Down 2.7 %

GoPro stock traded down $0.03 during trading on Wednesday, reaching $1.09. 1,428,148 shares of the company's stock were exchanged, compared to its average volume of 1,728,053. The company's 50-day moving average is $1.26 and its two-hundred day moving average is $1.32. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.32. GoPro has a 52-week low of $1.07 and a 52-week high of $3.50. The firm has a market cap of $168.69 million, a price-to-earnings ratio of -0.42 and a beta of 1.52.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GPRO shares. Wedbush reaffirmed a "neutral" rating and issued a $1.50 price objective on shares of GoPro in a research note on Wednesday, November 6th. StockNews.com upgraded shares of GoPro from a "sell" rating to a "hold" rating in a report on Friday, September 13th.

Institutional Investors Weigh In On GoPro

Several institutional investors and hedge funds have recently modified their holdings of GPRO. RIA Advisory Group LLC acquired a new position in GoPro in the 3rd quarter worth $27,000. Oak Thistle LLC purchased a new stake in shares of GoPro during the second quarter worth about $32,000. Point72 DIFC Ltd acquired a new position in shares of GoPro in the second quarter worth about $33,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in GoPro by 316.9% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 24,991 shares of the company's stock valued at $35,000 after purchasing an additional 18,996 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in GoPro during the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 70.09% of the company's stock.

GoPro Company Profile

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.