GoPro (GPRO) Shares Gap Down Following Analyst Downgrade
GoPro Inc (NASDAQ:GPRO)’s share price gapped down before the market opened on Wednesday after Citigroup lowered their price target on the stock to $7.00. The stock had previously closed at $6.09, but opened at $6.17. Citigroup currently has a neutral rating on the stock. GoPro shares last traded at $6.01, with a volume of 4373025 shares changing hands.
Several other research firms have also issued reports on GPRO. Wedbush reaffirmed a “neutral” rating and issued a $10.00 price objective (down previously from $11.48) on shares of GoPro in a research note on Friday, September 29th. Zacks Investment Research raised shares of GoPro from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Wednesday, October 4th. JPMorgan Chase & Co. set a $9.00 price objective on shares of GoPro and gave the company a “buy” rating in a research note on Monday. Oppenheimer reaffirmed a “hold” rating on shares of GoPro in a research note on Friday, September 29th. Finally, BidaskClub lowered shares of GoPro from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 9th. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. GoPro presently has an average rating of “Hold” and a consensus target price of $8.74.
In other news, CFO Brian Mcgee sold 7,541 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $8.23, for a total transaction of $62,062.43. Following the transaction, the chief financial officer now directly owns 79,167 shares in the company, valued at $651,544.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas Woodman sold 165,343 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $9.02, for a total transaction of $1,491,393.86. The disclosure for this sale can be found here. Insiders have sold 704,907 shares of company stock worth $6,478,800 over the last ninety days. Insiders own 28.58% of the company’s stock.
The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.38. The firm has a market cap of $883.05, a PE ratio of -3.52, a PEG ratio of 8.36 and a beta of 0.53.
GoPro, Inc (GoPro) produces cameras and mountable and wearable accessories. The Company’s product offerings include HERO5, which is a line of cloud-connected cameras featuring image stabilization, telemetry, cloud connectivity and voice control; GoPro Plus, which is a cloud-based storage solution that enables subscribers to access, edit and share content; Quik, which is a mobile editing application that creates edits on a smartphone; Capture, which is a mobile application that allows users to preview and play back shots, control their GoPro cameras and share content on the fly using their smartphones; Karma, which is its compact and foldable drone and versatile stabilization solution that includes the Karma controller, and camera stabilizer, and it all fits in a custom backpack, and Karma Grip, which is a handheld, body-mountable camera stabilizer.
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