Short Interest in GoPro, Inc. (NASDAQ:GPRO) Declines By 9.3%

GoPro, Inc. (NASDAQ:GPRO) was the recipient of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 4,600,000 shares, a decrease of 9.3% from the November 30th total of 5,070,000 shares. Currently, 3.7% of the company’s stock are sold short. Based on an average daily volume of 1,520,000 shares, the short-interest ratio is presently 3.0 days.

GoPro Stock Down 2.7 %

Shares of NASDAQ GPRO traded down $0.03 during mid-day trading on Wednesday, reaching $1.09. 1,428,148 shares of the company’s stock traded hands, compared to its average volume of 1,728,053. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 0.87. The business has a 50-day simple moving average of $1.26 and a 200 day simple moving average of $1.32. The stock has a market cap of $168.69 million, a P/E ratio of -0.42 and a beta of 1.52. GoPro has a 1-year low of $1.07 and a 1-year high of $3.50.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GPRO shares. Wedbush reiterated a “neutral” rating and issued a $1.50 price target on shares of GoPro in a report on Wednesday, November 6th. StockNews.com upgraded GoPro from a “sell” rating to a “hold” rating in a report on Friday, September 13th.

Hedge Funds Weigh In On GoPro

Hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its stake in shares of GoPro by 109.7% in the second quarter. Acadian Asset Management LLC now owns 4,415,441 shares of the company’s stock worth $6,267,000 after purchasing an additional 2,309,500 shares during the last quarter. GSA Capital Partners LLP grew its holdings in GoPro by 149.4% during the third quarter. GSA Capital Partners LLP now owns 2,542,398 shares of the company’s stock worth $3,458,000 after buying an additional 1,523,183 shares in the last quarter. State Street Corp raised its position in GoPro by 0.5% in the 3rd quarter. State Street Corp now owns 2,533,952 shares of the company’s stock valued at $3,446,000 after buying an additional 11,454 shares during the last quarter. Barclays PLC lifted its stake in GoPro by 4.0% during the 3rd quarter. Barclays PLC now owns 628,791 shares of the company’s stock valued at $855,000 after acquiring an additional 24,044 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of GoPro by 396.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 523,745 shares of the company’s stock worth $744,000 after acquiring an additional 418,288 shares in the last quarter. Institutional investors and hedge funds own 70.09% of the company’s stock.

About GoPro

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.