Economy

Are Traders Shorting GoPro, Inc. (NASDAQ:GPRO) Shares?

GoPro Inc (NASDAQ:GPRO) gapped down before the market opened on Wednesday after Citigroup lowered their price target on the stock to $7.00. On Thursday, February 4 the stock rating was downgraded by Sterne Agee CRT to "Neutral".

By taking a look at the stock's current statistics it can gauged that the stock candle is BULLISH with HIGH volatility. GoPro presently has a consensus rating of "Hold" and a consensus target price of $8.74. Wedbush reissued a neutral rating and set a $10.00 target price (down from $11.48) on shares of GoPro in a research report on Friday, September 29th. They noted that the move was a valuation call. The rating was initiated by Bank of America on Friday, September 16 with "Buy". Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company.

GPRO traded at an unexpectedly high level on 10/01/2018 when the stock experienced a -1.94% loss to a closing price of $6.05.

For the current quarter, 12 analysts are projecting a mean EPS of $-0.02/share. Short-term as well long term investors always focus on the liquidity of the stocks so for that concern, liquidity measure in recent quarter results of the company was recorded 1.50 as current ratio and on the opponent side the debt to equity ratio was 1.20 and long-term debt to equity ratio also remained 1.20. The company has a market cap of $897.65, a PE ratio of -3.58, a price-to-earnings-growth ratio of 8.36 and a beta of 0.53. The stock was trading at a distance of -48.28% from its 52-week highs and stands 22.02% away from its 52-week lows.

In related news, Director Anthony John Bates sold 17,023 shares of the company's stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $8.23, for a total value of $62,062.43. Following the completion of the sale, the director now owns 99,459 shares of the company's stock, valued at approximately $793,682.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The shares were sold at an average price of $7.98, for a total value of $135,843.54. The disclosure for this sale can be found here. However the company reported $0.29 earnings per share for the same quarter during past year. The action camera is powered by company's own custom made GP1 processor, which promises to offer the video frame rates, improved image quality, dynamic range, low-light performance and improved video stabilization.

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Large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC raised its holdings in GoPro by 416.1% during the third quarter. Gopro Inc Cl A Cmn (NASDAQ:GPRO)'s price to sales ratio for trailing twelve month stands at 0.65, whereas its price to book ratio for the most recent quarters is at 2.46. Swiss National Bank now owns 166,700 shares of the company's stock worth $1,355,000 after purchasing an additional 21,100 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of GoPro by 266.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 29,158 shares of the company's stock worth $321,000 after purchasing an additional 23,508 shares in the last quarter. Engineers Gate Manager LP now owns 193,688 shares of the company's stock valued at $1,575,000 after buying an additional 180,088 shares in the last quarter.

Several institutional investors have recently bought and sold shares of GPRO.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by StockNewsTimes and is owned by of StockNewsTimes.

GoPro, Inc (GoPro) produces cameras and mountable and wearable accessories.



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