Stock Traders Buy High Volume of Put Options on GoPro (NASDAQ:GPRO)

GoPro, Inc. (NASDAQ:GPRO - Get Free Report) was the target of some unusual options trading activity on Tuesday. Investors purchased 7,133 put options on the company. This is an increase of 425% compared to the average volume of 1,359 put options.

Institutional Trading of GoPro

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in GoPro by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 2,923,899 shares of the company's stock valued at $3,187,000 after buying an additional 50,834 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of GoPro by 149.4% during the third quarter. GSA Capital Partners LLP now owns 2,542,398 shares of the company's stock worth $3,458,000 after purchasing an additional 1,523,183 shares during the period. State Street Corp lifted its holdings in shares of GoPro by 0.5% during the third quarter. State Street Corp now owns 2,533,952 shares of the company's stock worth $3,446,000 after purchasing an additional 11,454 shares during the period. Two Sigma Investments LP lifted its holdings in shares of GoPro by 4.2% during the fourth quarter. Two Sigma Investments LP now owns 1,510,166 shares of the company's stock worth $1,646,000 after purchasing an additional 61,484 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of GoPro by 14.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,310,400 shares of the company's stock worth $1,428,000 after purchasing an additional 164,600 shares during the period. Institutional investors and hedge funds own 70.09% of the company's stock.

GoPro Price Performance

GoPro stock traded up $0.02 during mid-day trading on Friday, reaching $0.71. The company had a trading volume of 3,044,853 shares, compared to its average volume of 3,077,645. GoPro has a fifty-two week low of $0.64 and a fifty-two week high of $2.40. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51. The company has a market cap of $110.38 million, a P/E ratio of -0.25 and a beta of 1.62. The business has a fifty day simple moving average of $0.91 and a 200 day simple moving average of $1.14.

GoPro (NASDAQ:GPRO - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.12). GoPro had a negative net margin of 53.94% and a negative return on equity of 55.77%. On average, equities research analysts predict that GoPro will post -0.25 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GPRO shares. StockNews.com raised shares of GoPro from a "sell" rating to a "hold" rating in a research note on Saturday, March 8th. Wedbush reissued a "neutral" rating and issued a $1.50 price objective on shares of GoPro in a research note on Friday, January 31st.

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.