GoPro, Inc. (NASDAQ:GPRO) Short Interest Up 58.6% in February

GoPro, Inc. (NASDAQ:GPRO) was the target of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 7,520,000 shares, a growth of 58.6% from the January 31st total of 4,740,000 shares. Based on an average trading volume of 2,410,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 6.0% of the shares of the company are sold short.

GoPro Price Performance

NASDAQ:GPRO traded up $0.01 during mid-day trading on Tuesday, hitting $0.73. 3,095,857 shares of the stock traded hands, compared to its average volume of 2,925,937. The business’s 50-day moving average price is $0.98 and its 200 day moving average price is $1.18. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. The company has a market cap of $112.98 million, a PE ratio of -0.26 and a beta of 1.51. GoPro has a 12-month low of $0.68 and a 12-month high of $2.40.

GoPro (NASDAQ:GPRO) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.13) EPS 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, analysts expect that GoPro will post -0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On GoPro

Institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP boosted its position 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 valued at $3,458,000 after acquiring an additional 1,523,183 shares during the last quarter. Jane Street Group LLC lifted its position in GoPro by 63.4% during the third quarter. Jane Street Group LLC now owns 493,421 shares of the company’s stock valued at $671,000 after purchasing an additional 191,487 shares during the last quarter. State Street Corp grew its stake in GoPro by 0.5% in the 3rd quarter. State Street Corp now owns 2,533,952 shares of the company’s stock worth $3,446,000 after buying an additional 11,454 shares in the last quarter. Barclays PLC increased its holdings in shares of GoPro by 4.0% in the 3rd quarter. Barclays PLC now owns 628,791 shares of the company’s stock worth $855,000 after buying an additional 24,044 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of GoPro during the 3rd quarter valued at $35,000. 70.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GPRO shares. Wedbush restated a “neutral” rating and set a $1.50 target price on shares of GoPro in a research report on Friday, January 31st. StockNews.com cut GoPro from a “hold” rating to a “sell” rating in a report on Friday.

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.