It was just yesterday when we reported that shares of GoPro Inc (NASDAQ:GPRO) had hit a new all time low. Well, today, that low has been surpassed by quite a bit again, as shares continue their dive.
While the company now trades at a PE ratio just north of 12, shareholders seem worried that perhaps the camera industry will continue to be overwhelmed by the imaging technology found within smartphones. At the same time, GoPro Inc (NASDAQ:GPRO) seems to be setting themselves up to become a powerhouse within the 360-degree video space, which should be quite promising with mainstream virtual reality on the horizon.
Over the last five months the stock has dropped more than 70% and shareholders obviously are getting a bit concerned, wondering when the downtrend will be halted. The stock is down 4.39% or $0.67 following the news, hitting $14.59 per share. Approximately 5.41 million shares traded hands. GPRO shares have declined 74.31% since June 8, 2015 and are currently downtrending. It has underperformed the S&P500 by 66.83%.
From a total of 14 analysts covering GoPro Inc (NASDAQ:GPRO) stock, 8 rate it a “Buy”, 3 a “Sell”, and 3 a “Hold”. This means that 57% of the ratings are positive. The highest target price is $90 while the lowest target price is $12. The mean of all analyst targets is $41.16 which is 182.11% above today’s ($14.59) stock price. GoPro Inc was the topic of 43 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Barclays Capital maintained shares on January 8 with a “Overweight” rating. Citigroup maintained shares with a”Buy” rating and a $90 target share price in their report from a September 17. Citigroup downgraded GPRO stock in a recent report from December 11 to a “Neutral” rating. Hilliard Lyons initiated the rating on September 8. Hilliard Lyons has a “Buy” rating and a $48 price target on shares. Finally, Piper Jaffray maintained the stock with a “Underweight” rating in a report they issued on a November 18.
The institutional sentiment decreased to 1.46 in Q2 2015. It’s down 0.25, from 1.71 in 2015Q2. The ratio is negative, as 70 funds sold all their GoPro Inc shares they owned while 42 reduced their positions. 65 funds bought stakes while 99 increased their total positions. Institutions now own 43.04 million shares which is 14.87% more than the previous share count of 37.46 million in 2015Q2.
Sageview Capital Lp holds 20.01% of its total portfolio in GoPro Inc, equating to 1.70 million shares. Point72 Asia (Hong Kong) Ltd owns 30,000 shares representing 1.39% of their total US portfolio. Moreover, Mizuho Securities Usa Inc. has 1% of their total portfolio invested in the company, equating to 123,700 shares. The United Kingdom-based Old Mutual Global Investors (Uk) Ltd. has a total of 0.93% of their portfolio invested in the stock. Voloridge Investment Management Llc, a Florida-based fund reported 439,249 shares owned.
GoPro, Inc. produces mountable and wearable cameras and accessories, which the Company refers to as capture devices. The company has a market cap of $2.09 billion. Additionally, the Company develops and provides desktop editing software and mobile applications for free to consumers. It has 12.13 P/E ratio. The Firm offers HERO line of capture devices, which include HERO2, HERO3 camera, the HERO3+ camera and the HERO4 and HERO.