GoPro (NASDAQ:GPRO) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

GoPro, Inc. (NASDAQ:GPRO) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.92 and traded as high as $1.40. GoPro shares last traded at $1.34, with a volume of 23,530,552 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GPRO shares. Wall Street Zen raised shares of GoPro from a “strong sell” rating to a “sell” rating in a report on Sunday, August 23rd. Zacks Research lowered GoPro from a “hold” rating to a “strong sell” rating in a report on Friday, August 21st. Finally, Weiss Ratings raised GoPro from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 20th. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

GoPro Stock Down 2.2%

The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.35 and a current ratio of 0.57. The stock has a market capitalization of $241.69 million, a price-to-earnings ratio of -1.32 and a beta of 2.45. The firm’s fifty day simple moving average is $0.89 and its 200 day simple moving average is $0.92.

GoPro (NASDAQ:GPRO) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.23). GoPro had a negative net margin of 28.52% and a negative return on equity of 411.41%. The company had revenue of $104.93 million during the quarter, compared to the consensus estimate of $151.47 million. On average, sell-side analysts forecast that GoPro, Inc. will post -0.81 earnings per share for the current year.

Hedge Funds Weigh In On GoPro

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp raised its stake in shares of GoPro by 59.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 265,800 shares of the company’s stock valued at $205,000 after purchasing an additional 99,100 shares during the period. Renaissance Technologies LLC boosted its position in shares of GoPro by 137.1% during the first quarter. Renaissance Technologies LLC now owns 1,625,900 shares of the company’s stock worth $1,252,000 after buying an additional 940,300 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of GoPro by 10.6% during the first quarter. Public Employees Retirement System of Ohio now owns 149,341 shares of the company’s stock worth $115,000 after buying an additional 14,324 shares in the last quarter. R Squared Ltd grew its holdings in shares of GoPro by 49.4% during the first quarter. R Squared Ltd now owns 97,067 shares of the company’s stock worth $75,000 after buying an additional 32,113 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in GoPro by 27.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 162,535 shares of the company’s stock valued at $125,000 after buying an additional 34,961 shares during the last quarter. 70.09% of the stock is owned by institutional investors and hedge funds.

GoPro Company Profile

GoPro, Inc is a technology company that develops and sells cameras, accessories and software designed to help consumers and professionals capture and share photos and videos. Its products are commonly used for action sports, travel, outdoor recreation and other activities that benefit from compact, durable recording equipment.

The company’s product portfolio includes HERO cameras, MAX 360-degree cameras, camera mounts and other accessories. GoPro also offers the Quik mobile and desktop application, which provides tools for organizing, editing and sharing content.