GoPro (NASDAQ:GPRO) Downgraded to “Sell” Rating by Wall Street Zen

GoPro (NASDAQ:GPRO) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other equities analysts have also weighed in on the stock. Wedbush restated a “neutral” rating and set a $0.75 target price (down previously from $1.00) on shares of GoPro in a research report on Tuesday, May 13th. Morgan Stanley reaffirmed an “underweight” rating on shares of GoPro in a research note on Tuesday.

GoPro Stock Performance

Shares of NASDAQ:GPRO opened at $1.35 on Friday. The firm has a fifty day moving average price of $1.02 and a 200 day moving average price of $0.80. GoPro has a fifty-two week low of $0.40 and a fifty-two week high of $2.37. The firm has a market cap of $212.69 million, a price-to-earnings ratio of -1.96 and a beta of 1.40.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew 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 worth $2,445,000 after acquiring an additional 3,338,941 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in GoPro by 132.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,236,823 shares of the company’s stock worth $2,146,000 after acquiring an additional 1,841,983 shares in the last quarter. GSA Capital Partners LLP grew its holdings in GoPro by 99.5% during the 1st 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 in the last quarter. Allianz Asset Management GmbH bought a new position in GoPro during the 2nd quarter worth about $474,000. Finally, Militia Capital Partners LP bought a new position in GoPro during the 2nd quarter worth about $379,000. Hedge funds and other institutional investors own 70.09% of the company’s stock.

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.