Investors Buy Large Volume of Call Options on GoPro (NASDAQ:GPRO)

GoPro, Inc. (NASDAQ:GPRO) was the recipient of unusually large options trading activity on Monday. Investors acquired 7,413 call options on the company. This is an increase of 334% compared to the typical volume of 1,710 call options.

Hedge Funds Weigh In On GoPro

Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in GoPro by 957.3% during the first quarter. AQR Capital Management LLC now owns 3,687,711 shares of the company’s stock valued at $2,445,000 after purchasing an additional 3,338,941 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of GoPro by 132.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,236,823 shares of the company’s stock valued at $2,146,000 after buying an additional 1,841,983 shares during the last quarter. GSA Capital Partners LLP raised its stake in GoPro by 99.5% during the first quarter. GSA Capital Partners LLP now owns 1,723,421 shares of the company’s stock worth $1,142,000 after acquiring an additional 859,677 shares during the period. Bridgeway Capital Management LLC lifted its holdings in GoPro by 110.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 721,900 shares of the company’s stock worth $787,000 after acquiring an additional 379,500 shares during the last quarter. Finally, Nuveen LLC acquired a new position in GoPro in the first quarter valued at approximately $250,000. 70.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GPRO has been the subject of several recent research reports. Wedbush reiterated a “neutral” rating and issued a $0.75 price target (down from $1.00) on shares of GoPro in a report on Tuesday, May 13th. Wall Street Zen raised GoPro from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

GoPro Stock Performance

NASDAQ:GPRO traded up $0.01 during trading hours on Monday, reaching $0.81. 1,018,776 shares of the stock were exchanged, compared to its average volume of 3,840,674. GoPro has a 52 week low of $0.40 and a 52 week high of $1.76. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $127.30 million, a P/E ratio of -0.28 and a beta of 1.35. The firm has a 50 day simple moving average of $0.58 and a 200-day simple moving average of $0.84.

GoPro Company Profile

GoPro, Inc develops and sells cameras, mountable and wearable accessories, and subscription services and software in the Americas, Europe, the Middle East, Africa, the Asia and Pacific region, and internationally. The company provides cloud connected HERO12 Black, HERO11 Black, HERO11 Black Mini, HERO10 Black, HERO10 Black Bones, and HERO9 Black waterproof cameras; MAX, a 360-degree waterproof camera; Premium and Premium+ subscription services, which include full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription that offers access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik desktop and mobile apps that enable users to get their favorite photos and videos with footage from any phone or camera.