GoPro, Inc. (NASDAQ:GPRO) Short Interest Down 9.3% in December

GoPro, Inc. (NASDAQ:GPRO) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 4,600,000 shares, a drop of 9.3% from the November 30th total of 5,070,000 shares. Based on an average daily trading volume, of 1,520,000 shares, the days-to-cover ratio is currently 3.0 days. Approximately 3.7% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RIA Advisory Group LLC bought a new position in shares of GoPro during the 3rd quarter worth approximately $27,000. Oak Thistle LLC bought a new stake in GoPro during the second quarter worth $32,000. Point72 DIFC Ltd purchased a new position in GoPro in the second quarter worth $33,000. Point72 Asia Singapore Pte. Ltd. grew its stake 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 purchasing an additional 18,996 shares during the period. Finally, Intech Investment Management LLC bought a new position in GoPro in the 3rd quarter valued at $35,000. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GPRO shares. Wedbush restated a “neutral” rating and issued a $1.50 target price on shares of GoPro in a report on Wednesday, November 6th. StockNews.com raised GoPro from a “sell” rating to a “hold” rating in a research note on Friday, September 13th.

GoPro Stock Down 2.7 %

GPRO traded down $0.03 during mid-day trading on Wednesday, reaching $1.09. 1,428,148 shares of the stock were exchanged, compared to its average volume of 1,728,053. GoPro has a 1 year low of $1.07 and a 1 year high of $3.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.32. The stock has a market capitalization of $168.69 million, a PE ratio of -0.42 and a beta of 1.52. The company has a 50 day moving average price of $1.26 and a two-hundred day moving average price of $1.32.

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.