GoPro (NASDAQ:GPRO) Earns “Neutral” Rating from Wedbush

GoPro (NASDAQ:GPRO)‘s stock had its “neutral” rating reiterated by equities research analysts at Wedbush in a report issued on Tuesday,RTT News reports. They currently have a $0.75 price target on the stock, down from their previous price target of $1.00. Wedbush’s target price would suggest a potential upside of 22.87% from the company’s previous close.

Separately, StockNews.com began coverage on GoPro in a research note on Tuesday, April 29th. They set a “sell” rating on the stock.

GoPro Stock Up 1.3%

Shares of GoPro stock opened at $0.61 on Tuesday. The business’s fifty day moving average price is $0.61 and its two-hundred day moving average price is $0.93. 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 company has a market capitalization of $96.09 million, a P/E ratio of -0.21 and a beta of 1.39. GoPro has a 1-year low of $0.40 and a 1-year high of $1.80.

Hedge Funds Weigh In On GoPro

Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its position in shares of GoPro by 153.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 23,905 shares of the company’s stock valued at $26,000 after purchasing an additional 14,485 shares during the period. R Squared Ltd acquired a new position in shares of GoPro during the 4th quarter valued at $27,000. Picton Mahoney Asset Management increased its position in shares of GoPro by 77.4% during the 4th quarter. Picton Mahoney Asset Management now owns 27,908 shares of the company’s stock valued at $30,000 after purchasing an additional 12,172 shares during the period. MetLife Investment Management LLC increased its position in shares of GoPro by 90.4% during the 4th quarter. MetLife Investment Management LLC now owns 36,134 shares of the company’s stock valued at $39,000 after purchasing an additional 17,158 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in shares of GoPro during the 4th quarter valued at $42,000. 70.09% of the stock is currently owned by institutional investors and hedge funds.

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.