GoPro’s (GPRO) “Neutral” Rating Reaffirmed at Wedbush

GoPro (NASDAQ:GPRO)‘s stock had its “neutral” rating restated by Wedbush in a research note issued to investors on Wednesday,RTT News reports. They currently have a $1.50 target price on the stock. Wedbush’s price objective indicates a potential upside of 3.45% from the company’s previous close.

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

GoPro Trading Up 0.7 %

Shares of GPRO stock opened at $1.45 on Wednesday. GoPro has a 1-year low of $1.16 and a 1-year high of $3.80. The company has a market cap of $221.46 million, a price-to-earnings ratio of -0.56 and a beta of 1.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.47 and a quick ratio of 1.07. The stock has a 50 day simple moving average of $1.32 and a 200-day simple moving average of $1.44.

GoPro (NASDAQ:GPRO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.01. The business had revenue of $186.22 million for the quarter, compared to the consensus estimate of $170.02 million. GoPro had a negative net margin of 42.19% and a negative return on equity of 24.57%. The company’s revenue was down 22.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.13) earnings per share. On average, equities research analysts expect that GoPro will post -0.65 EPS for the current fiscal year.

Institutional Trading of GoPro

Several large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its position in shares of GoPro by 191.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,105,941 shares of the company’s stock valued at $4,694,000 after acquiring an additional 1,384,308 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of GoPro by 69.8% in the 1st quarter. SG Americas Securities LLC now owns 106,154 shares of the company’s stock valued at $237,000 after buying an additional 43,645 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of GoPro during the 1st quarter worth approximately $655,000. Headlands Technologies LLC raised its position in shares of GoPro by 62.6% during the 1st quarter. Headlands Technologies LLC now owns 29,379 shares of the company’s stock valued at $66,000 after buying an additional 11,306 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in GoPro in the first quarter valued at approximately $75,000. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

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.