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

GoPro, Inc. (NASDAQ:GPRO) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 5,720,000 shares, a decline of 8.9% from the October 15th total of 6,280,000 shares. Based on an average daily volume of 1,230,000 shares, the days-to-cover ratio is presently 4.7 days. Approximately 4.7% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wedbush restated a “neutral” rating and set a $1.50 target price on shares of GoPro in a report on Wednesday, November 6th. StockNews.com upgraded shares of GoPro from a “sell” rating to a “hold” rating in a research report on Friday, September 13th.

GoPro Trading Down 1.7 %

Shares of GPRO stock traded down $0.02 on Monday, reaching $1.19. 2,518,515 shares of the stock were exchanged, compared to its average volume of 1,726,051. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 0.87. GoPro has a one year low of $1.16 and a one year high of $3.80. The stock has a market cap of $181.75 million, a PE ratio of -0.45 and a beta of 1.56. The stock has a 50 day moving average price of $1.34 and a 200 day moving average price of $1.41.

Institutional Trading of GoPro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its stake in shares of GoPro by 109.7% in the 2nd quarter. Acadian Asset Management LLC now owns 4,415,441 shares of the company’s stock valued at $6,267,000 after purchasing an additional 2,309,500 shares during the last quarter. GSA Capital Partners LLP boosted its stake in GoPro by 149.4% in the third quarter. GSA Capital Partners LLP now owns 2,542,398 shares of the company’s stock valued at $3,458,000 after acquiring an additional 1,523,183 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in GoPro by 396.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 523,745 shares of the company’s stock worth $744,000 after acquiring an additional 418,288 shares during the period. Jane Street Group LLC raised its position in shares of GoPro by 63.4% during the 3rd quarter. Jane Street Group LLC now owns 493,421 shares of the company’s stock valued at $671,000 after acquiring an additional 191,487 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of GoPro by 312.4% in the 1st quarter. BNP Paribas Financial Markets now owns 156,199 shares of the company’s stock valued at $348,000 after purchasing an additional 118,322 shares during the period. 70.09% of the stock is currently 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.