GoPro (NASDAQ:GPRO) Stock Sees Heavy Call Option Buying

GoPro, Inc. (NASDAQ:GPRO) was the recipient of some unusual options trading on Tuesday. Stock investors acquired 29,943 call options on the company. This is an increase of approximately 38% compared to the typical daily volume of 21,650 call options.

GoPro Stock Performance

Shares of GPRO traded up $0.06 during mid-day trading on Tuesday, reaching $1.09. The company had a trading volume of 7,860,422 shares, compared to its average volume of 15,080,204. The company’s 50 day simple moving average is $1.11 and its 200 day simple moving average is $0.99. GoPro has a 1-year low of $0.57 and a 1-year high of $2.73. The company has a market capitalization of $202.03 million, a price-to-earnings ratio of -1.11 and a beta of 2.43.

GoPro (NASDAQ:GPRO) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.23). The company had revenue of $104.93 million for the quarter, compared to analyst estimates of $151.47 million. GoPro had a negative return on equity of 411.41% and a negative net margin of 28.52%. As a group, equities analysts forecast that GoPro will post -0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GPRO has been the topic of several recent analyst reports. Wall Street Zen upgraded GoPro from a “strong sell” rating to a “sell” rating in a research note on Sunday, August 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of GoPro in a research report on Friday. Finally, Zacks Research upgraded GoPro from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

Institutional Trading of GoPro

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

About GoPro

GoPro, Inc develops and sells compact cameras and related products designed to capture immersive photos and video during travel, sports, outdoor recreation and everyday activities. Its product portfolio includes HERO action cameras, MAX 360-degree cameras, camera accessories, mounts and other equipment used by consumers, creators and professionals.

The company also provides software and digital services that support content capture, editing, storage and sharing. Its Quik mobile and desktop applications are designed to help users organize and edit footage, while GoPro subscription offerings provide features such as cloud storage, automatic uploads, editing tools, camera replacement benefits and discounts on products and accessories.

Founded in 2002 by Nicholas Woodman, GoPro grew from a wrist-mounted camera concept into a global action-camera brand.