Thu Sep 19 08:22:02 UTC 2024: ## GoPro Sees Short Interest Drop as Hedge Funds Show Interest

**San Francisco, CA – September 19th, 2024** – GoPro, Inc. (NASDAQ: GPRO) experienced a significant decrease in short interest during August, suggesting a growing confidence in the company’s future. Short interest fell by 6.7% to 6,840,000 shares as of August 31st, indicating that investors are less bearish on GoPro’s prospects.

This positive sentiment is echoed by recent activity from hedge funds. Several firms, including Quadrant Capital Group LLC, Oak Thistle LLC, Point72 DIFC Ltd, Point72 Asia Singapore Pte. Ltd., and Innealta Capital LLC, have either purchased new stakes in GoPro or increased their existing holdings. This suggests that institutional investors believe GoPro is poised for growth.

GoPro recently reported its second quarter earnings, beating analyst expectations on earnings per share. However, revenue declined compared to the same period last year. Despite this, analysts remain cautiously optimistic about GoPro’s future, forecasting a loss of $0.67 per share for the current fiscal year.

While Wedbush lowered their price target on GoPro shares from $2.00 to $1.50, StockNews.com upgraded their rating from “sell” to “hold,” indicating a more positive outlook.

GoPro’s stock opened at $1.34 on Thursday, demonstrating a relatively stable performance. The company continues to develop and sell its popular line of cameras, mountable accessories, and subscription services, aiming to capitalize on the growing market for action cameras and creative content.

This decrease in short interest and increased institutional investment in GoPro signal a potential shift in sentiment towards the company. It will be interesting to see if this positive trend continues in the coming months and how GoPro navigates the evolving landscape of the action camera market.

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