GoPro (NASDAQ:GPRO) Shares Cross Above 200-Day Moving Average – Here’s Why

Shares of GoPro, Inc. (NASDAQ:GPRO) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.21 and traded as high as $1.2898. GoPro shares last traded at $1.25, with a volume of 6,199,780 shares.

Analysts Set New Price Targets

A number of equities analysts have commented on GPRO shares. Weiss Ratings cut shares of GoPro from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 15th. Wall Street Zen cut shares of GoPro from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

GoPro Trading Up 2.5%

The stock has a market capitalization of $213.73 million, a P/E ratio of -1.58 and a beta of 2.46. The company has a current ratio of 0.58, a quick ratio of 0.38 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average price is $1.05 and its two-hundred day moving average price is $1.21.

GoPro (NASDAQ:GPRO) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.32). The business had revenue of $99.07 million during the quarter, compared to the consensus estimate of $137.54 million. GoPro had a negative return on equity of 161.44% and a negative net margin of 20.70%. Equities research analysts forecast that GoPro, Inc. will post -0.04 EPS for the current year.

Insider Buying and Selling at GoPro

In other news, COO Brian Mcgee sold 130,631 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $0.97, for a total value of $126,712.07. Following the completion of the sale, the chief operating officer directly owned 947,123 shares in the company, valued at approximately $918,709.31. The trade was a 12.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 18.38% of the company’s stock.

Institutional Investors Weigh In On GoPro

A number of hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of GoPro by 16.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,278,484 shares of the company’s stock worth $10,263,000 after acquiring an additional 1,013,494 shares during the last quarter. UBS Group AG raised its holdings in GoPro by 168.6% during the 4th quarter. UBS Group AG now owns 3,781,516 shares of the company’s stock valued at $5,332,000 after buying an additional 2,373,901 shares during the last quarter. AQR Capital Management LLC raised its holdings in GoPro by 957.3% during the 1st quarter. AQR Capital Management LLC now owns 3,687,711 shares of the company’s stock valued at $2,445,000 after buying an additional 3,338,941 shares during the last quarter. Millennium Management LLC raised its holdings in GoPro by 111.9% during the 4th quarter. Millennium Management LLC now owns 3,438,671 shares of the company’s stock valued at $4,849,000 after buying an additional 1,815,637 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in GoPro by 59.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,101,691 shares of the company’s stock valued at $4,456,000 after buying an additional 781,426 shares during the last quarter. 70.09% of the stock is currently owned by institutional investors.

About GoPro

GoPro, Inc (NASDAQ: GPRO) is an American technology company specializing in the design and manufacture of compact, high-definition cameras and related accessories. Headquartered in San Mateo, California, GoPro’s product lineup is centered on its flagship HERO series of action cameras, which combine rugged construction, waterproof housings and advanced imaging capabilities. In addition to the HERO line, the company offers the MAX camera for 360-degree video capture, along with an array of mounts, grips and protective cases to support use in extreme sports, travel and professional video production.

Since its founding in 2002 by Nicholas Woodman, who continues to serve as chief executive officer, GoPro has expanded beyond hardware into software and cloud-based services.