GoPro's (GPRO) Neutral Rating Reaffirmed at Wedbush

Wedbush reiterated their neutral rating on shares of GoPro (NASDAQ:GPRO - Free Report) in a research report report published on Wednesday morning, RTT News reports. They currently have a $1.50 target price on the stock.

Separately, StockNews.com raised GoPro from a "sell" rating to a "hold" rating in a research report on Friday, September 13th.

GoPro Stock Up 2.9 %

NASDAQ GPRO traded up $0.04 during trading on Wednesday, hitting $1.44. The stock had a trading volume of 1,916,745 shares, compared to its average volume of 1,683,624. The company has a market capitalization of $219.93 million, a PE ratio of -0.57 and a beta of 1.56. The company's 50-day moving average price is $1.31 and its two-hundred day moving average price is $1.44. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.47. GoPro has a 12 month low of $1.16 and a 12 month high of $3.80.

GoPro (NASDAQ:GPRO - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.01. The firm had revenue of $186.22 million for the quarter, compared to analysts' expectations of $170.02 million. GoPro had a negative return on equity of 24.57% and a negative net margin of 42.19%. The business's quarterly revenue was down 22.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.13) EPS. As a group, sell-side analysts forecast that GoPro will post -0.65 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. RIA Advisory Group LLC acquired a new position in shares of GoPro during the 3rd quarter worth approximately $27,000. GSA Capital Partners LLP increased its holdings in shares of GoPro by 149.4% during the 3rd quarter. GSA Capital Partners LLP now owns 2,542,398 shares of the company's stock worth $3,458,000 after acquiring an additional 1,523,183 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of GoPro by 15.6% during the 3rd quarter. SG Americas Securities LLC now owns 115,176 shares of the company's stock worth $157,000 after acquiring an additional 15,541 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of GoPro during the 2nd quarter worth approximately $33,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in GoPro by 316.9% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 24,991 shares of the company's stock valued at $35,000 after buying an additional 18,996 shares in the last quarter. 70.09% of the stock is 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.