Short Interest in GoPro, Inc. (NASDAQ:GPRO) Declines By 5.4%

GoPro, Inc. (NASDAQ:GPRO - Get Free Report) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 4,350,000 shares, a decline of 5.4% from the December 31st total of 4,600,000 shares. Approximately 3.5% of the shares of the stock are short sold. Based on an average daily volume of 1,590,000 shares, the short-interest ratio is presently 2.7 days.

Institutional Investors Weigh In On GoPro

Hedge funds and other institutional investors have recently modified their holdings of the stock. RIA Advisory Group LLC bought a new stake in GoPro in the 3rd quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of GoPro by 316.9% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 24,991 shares of the company's stock worth $35,000 after purchasing an additional 18,996 shares during the period. R Squared Ltd purchased a new stake in shares of GoPro during the fourth quarter worth about $27,000. Intech Investment Management LLC bought a new stake in shares of GoPro in the third quarter worth about $35,000. Finally, The Manufacturers Life Insurance Company increased its holdings in GoPro by 19.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,609 shares of the company's stock valued at $80,000 after purchasing an additional 9,337 shares during the period. Institutional investors own 70.09% of the company's stock.

GoPro Price Performance

Shares of GPRO stock traded down $0.18 during trading hours on Friday, hitting $0.90. 10,367,205 shares of the company's stock were exchanged, compared to its average volume of 2,300,447. GoPro has a 12-month low of $0.85 and a 12-month high of $2.67. The company has a market capitalization of $139.10 million, a PE ratio of -0.34 and a beta of 1.51. The business's 50 day simple moving average is $1.11 and its 200-day simple moving average is $1.25. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51.

GoPro (NASDAQ:GPRO - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.12). GoPro had a negative return on equity of 33.48% and a negative net margin of 44.37%. On average, equities research analysts anticipate that GoPro will post -2.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wedbush reiterated a "neutral" rating and issued a $1.50 price objective on shares of GoPro in a report on Friday, January 31st.

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.