GoPro, Inc. (NASDAQ: GPRO)
GoPro, Inc. (GPRO), a company that manufactures cameras on Wednesday after market announced fourth quarter and full year 2015 financial results. GPRO reported a fourth quarter loss of $0.08 per share which fell short of analyst expectations of break even. GPRO reported fourth quarter revenues fell 31% year over year to $436.6 million which also fell short of analyst expectations of $496.1 million.
GoPro, Inc. CEO’s Comments
“In 2015, we recorded 16% year-over-year revenue growth and the fourth quarter represented the second highest revenue quarter in the company’s history,” said GoPro Founder and CEO, Nicholas Woodman. “However, growth slowed in the second half of the year and we recognize the need to develop software solutions that make it easier for our customers to offload, access and edit their GoPro content.” Globe Newswire
GPRO Technical Analysis
GPRO opened yesterday at $10.28, up from the prior day’s close of $10.24. BWLD closed at $10.71 up over 4%. GPRO is trading down over 9% at $9.71 in after hours trading on Wednesday. GPRO has fallen through the previous 52 week low of $9.90. Taking a look at the daily chart we can see that GPRO has been on a sharp decline dating back to August 10th when it traded at its 52 week high price of $65.49. GPRO has a float of 70.07 million shares and traded 1.1 times the normal daily trading volume on Wednesday. For trading purposes, I would be looking to take a short position in early morning trading on Thursday, giving myself a $0.20 stop loss on the position.
GoPro, Inc. develops hardware and software solutions to alleviate consumer pain points associated with capturing, managing, sharing, and enjoying engaging content. The company offers HERO line of capture devices, such as cameras; premium accessories, including battery BacPac, smart remote, and LCD touch BacPac accessories; and mounts comprising equipment-based mounts consisting of helmet, handlebar, roll bar, and grip and tripod mounts that enable consumers to capture content while engaged in a range of activities, as well as mounts that enable customers to wear the mount on their bodies, such as wrist housings, chest harnesses, and head straps. It also provides other accessories that include spare batteries, charging accessories, cables to connect its GoPro cameras to televisions and monitors, video transmitters, external microphones, flotation devices, dive filters, and anti-fogging solutions, as well as accessories for the smart remotes. In addition, it provides GoPro Studio, a video editing tool that allows users to create professional quality videos from their GoPro content; and GoPro App that allows users to easily and wirelessly manage, store, and share content from cameras to mobile devices. GoPro, Inc. markets and sells its products through retailers and distributors, as well as through its Website in the United States and internationally. The company was formerly known as Woodman Labs, Inc. and changed its name to GoPro, Inc. in February 2014. GoPro, Inc. was founded in 2004 and is headquartered in San Mateo, California. Yahoo Finance