GoPro (GPRO) Shares Down 9.5%

GoPro (NASDAQ:GPRO) shares fell 9.5% during trading on Friday . The stock traded as low as $5.39 and last traded at $5.42. 4,981,957 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 4,498,419 shares. The stock had previously closed at $5.99.

Several research firms have recently commented on GPRO. BidaskClub lowered shares of GoPro from a “sell” rating to a “strong sell” rating in a report on Friday, March 23rd. Citigroup cut their price objective on shares of GoPro from $6.50 to $5.30 and set a “neutral” rating on the stock in a research report on Friday, May 4th. Vetr upgraded shares of GoPro from a “strong sell” rating to a “sell” rating and set a $5.00 price objective on the stock in a research report on Monday, March 12th. Wedbush reiterated a “neutral” rating and issued a $6.00 price objective on shares of GoPro in a research report on Monday, April 30th. Finally, JPMorgan Chase set a $8.00 price objective on shares of GoPro and gave the company a “hold” rating in a research report on Friday, May 4th. Four research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $7.48.

The stock has a market cap of $867.96 million, a price-to-earnings ratio of -5.11 and a beta of 0.19. The company has a current ratio of 1.57, a quick ratio of 1.04 and a debt-to-equity ratio of 0.61.

GoPro (NASDAQ:GPRO) last issued its quarterly earnings data on Thursday, May 3rd. The company reported ($0.34) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.04. GoPro had a negative net margin of 12.73% and a negative return on equity of 38.90%. The firm had revenue of $202.35 million for the quarter, compared to the consensus estimate of $182.26 million. During the same period last year, the firm posted ($0.44) EPS. GoPro’s quarterly revenue was down 7.4% compared to the same quarter last year. sell-side analysts expect that GoPro will post -0.47 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. raised its position in shares of GoPro by 235.8% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 30,621 shares of the company’s stock worth $233,000 after buying an additional 21,501 shares in the last quarter. MUFG Securities EMEA plc raised its position in shares of GoPro by 958.1% during the 4th quarter. MUFG Securities EMEA plc now owns 35,287 shares of the company’s stock worth $267,000 after buying an additional 31,952 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of GoPro during the 4th quarter worth about $269,000. CIBC World Markets Inc. bought a new stake in shares of GoPro during the 4th quarter worth about $295,000. Finally, Koch Industries Inc. bought a new stake in shares of GoPro during the 1st quarter worth about $296,000. Institutional investors own 25.94% of the company’s stock.

About GoPro

GoPro, Inc develops and sells cameras, and mountable and wearable accessories in the United States and internationally. The company offers HERO5 and HERO6, which are cloud-connected line of cameras; Fusion, a waterproof spherical camera; GoPro Plus, a cloud-based storage solution that enables subscribers to access, edit, and share content; Quik, a mobile editing app, as well as desktop app for editing options for power users; GoPro App, a mobile app that allows users to preview and play back photos and videos, control GoPro cameras, and share content; and Karma Grip, a handheld or body-mountable camera stabilizer that capture zero-shake smooth video.

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