GoPro (GPRO) Shares Gap Down Following Analyst Downgrade

GoPro HERO6 Black Price in India Slashed

Analysts are expecting average earnings estimates of $-0.02 for the current quarter based on the opinion of 12 analysts, relating to high earnings per share estimates of $0.44 and low estimates of $-0.3, however Gopro Inc Cl A Cmn (NASDAQ:GPRO) reported $0.29 earnings per share for the same quarter previous year. The brokerage now has a "neutral" rating on the stock. During the past three months the stock gain -36.14%, however six months performance of the stock remained at -27.13%. Vetr downgraded shares of GoPro from a "buy" rating to a "hold" rating and set a $11.84 price objective on the stock.in a research report on Monday, September 18th. They noted that the move was a valuation call. With issues pertaining to market size and potential market saturation, highlighted in research reports from analysts covering GoPro on Tuesday, investors have taken the view that the long-term outlook for GoPro is perhaps not as bright as once thought. As per Zacks simplified descending rating scale the ABR rank is displayed in the range of 1 to 5 where 1 represents Strong Buy and 5 a Strong Sell.

Moving average convergence divergence (MACD) shows that the stock is on a PRICE RELATIVITY trend.

Looking into last 5 trades, the stock observed a return of nearly -18.76%.

On the other hand the company has Relative Strength Index (RSI 14) of 18.41 along with Average True Range (ATR 14) of 0.39, Consequently Gopro Inc Cl A Cmn (NASDAQ:GPRO)'s weekly and monthly volatility is 11.93%, 4.94% respectively.

The company now has an insider ownership of 0.3 Percent and Institutional ownership of 36.8 Percent. The stock was trading at a distance of -48.28% from its 52-week highs and stands 22.02% away from its 52-week lows. Also, Director Anthony John Bates sold 17,023 shares of GoPro stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $7.98, for a total transaction of $135,843.54. Following the sale, the director now directly owns 99,459 shares in the company, valued at approximately $793,682.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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In other news, CEO Nicholas Woodman sold 515,000 shares of the firm's stock in a transaction on Friday, November 3rd. Dougherty maintained the shares of GPRO in report on Tuesday, January 9 with "Sell" rating. The disclosure for this sale can be found here. Insiders have sold a total of 704,907 shares of company stock valued at $6,478,800 over the last 90 days. Schwab Charles Investment Management Inc. now owns 621,960 shares of the company's stock worth $6,848,000 after purchasing an additional 65,097 shares in the last quarter.

Large investors have recently added to or reduced their stakes in the stock. Capital Fund Management S.A. raised its position in shares of GoPro by 338.7% during the 2nd quarter. Vanguard Group Inc. grew its position in shares of GoPro by 6.7% during the 2nd quarter. Amalgamated Bank now owns 14,564 shares of the company's stock valued at $118,000 after acquiring an additional 1,858 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of GoPro by 266.1% during the 2nd quarter. However the company's price to cash per share for most recent quarter stands at 1.34.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by StockNewsTimes and is owned by of StockNewsTimes.

GoPro has faced intensifying competition in the action camera market, as big tech companies from to have started selling similar products. The firm offers HERO5, a line of cloud-connected cameras; GoPro Plus, a cloud storage solution that enables subscribers to access, edit, and share content; Quik, a desktop app that provides expanded editing options for power users; Capture, a mobile app that allows users to preview and play back shots, control their GoPro cameras, and share content on the fly using their smartphones; Karma, a compact and foldable drone and versatile stabilization solution; and Karma Grip, a handheld and body-mountable camera stabilizer to capture zero-shake and smooth video.

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