Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. GoPro Inc. shares valued at $291,264 were sold by MCGEE BRIAN on Feb 16 ’24. At $2.40 per share, MCGEE BRIAN sold 121,441 shares. The insider’s holdings dropped to 288,424 shares worth approximately $0.61 million following the completion of this transaction.
Also, Jahnke Dean sold 27,849 shares, netting a total of over 67,094 in proceeds. Following the sale of shares at $2.41 each, the insider now holds 267,651 shares.
Before that, Lafrades Charles had sold 8,166 shares from its account. In a trade valued at $19,692, the Chief Accounting Officer traded GoPro Inc. shares for $2.41 each. Upon closing the transaction, the insider’s holdings decreased to 8,166 shares, worth approximately $0.2 million.
As published in a research note from Wedbush on February 08, 2024, GoPro Inc. [GPRO] has been rated down from an Outperform to a Neutral and the price target has been revised to $2. Analysts at Morgan Stanley downgraded the stock from ‘”an Equal-weight”‘ to ‘”an Underweight”‘ outlook in a report released in mid December. As of November 04, 2022, Oppenheimer has decreased its “an Outperform” rating to a “Perform” for GPRO. Earlier on November 04, 2022, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for GPRO stock which previously was a “an Overweight”.
Analyzing GPRO Stock Performance
During the last five days, there has been a drop of approximately -5.38%. Over the course of the year, GoPro Inc. shares have dropped approximately -39.19%. Shares of the company reached a 52-week high of $3.50 on 01/02/24 and a 52-week low of $2.07 on 04/04/24. A 50-day SMA is recorded $2.46, while a 200-day SMA reached $3.24. Nevertheless, trading volume fell to 2.0 million shares from 1.13 million shares the previous day.
Support And Resistance Levels for GoPro Inc. (GPRO)
According to the 24-hour chart, there is a support level at 2.04, which, if violated, would cause prices to drop to 1.97. In the upper region, resistance lies at 2.21. The next price resistance is at 2.31. RSI (Relative Strength Index) is 36.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.08, which suggests the price will decrease in the coming days. Percent R is at 87.88%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is GoPro Inc. subject to short interest?
Stocks of GoPro Inc. saw a sharp rise in short interest on Mar 15, 2024 jumping by 1.17 million shares to 7.1 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 5.93 million shares. A jump of 16.48% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.69 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.69.
