Technical analysis on these sizzling stocks: GoPro Inc. (GPRO) and RingCentral Inc. (RNG)

On Sep 03, MCGEE BRIAN, EVP, Chief Financial Officer sold 5,451 shares of GoPro Inc. (NASDAQ: GPRO), with the average selling price of the stock being $3.83 per share. The total amount realized from this sold $20,877. A document was filed with the Securities and Exchange Commission to notify the public about the sold of the shares.

In addition to that, Director – Ahmad-Taylor Tyrone sold an extra 4,189 shares of this stock in a transaction that took place a day before, on Aug 05, with a share sold at an average of $4.35 and a total of $18,222 was realized from this transaction. After the transaction, the Director – Ahmad-Taylor Tyrone was left with 28,510 shares of the company’s stock, which is currently worth around $124018.5.

The recent price movement of GPRO means that it is now down by -52.78% from its 52-week high and 11.08% up against its 52-week low prices. Over the past one week, the price volatility of GPRO stands at 4.67% while the volatility over the past one month is 7.38%. The beta score for this stock is 0.90. A beta score below 1 means that the stock has a low volatility while above 1 signifies that a stock is highly volatile at that particular moment, a data that traders use to keep tabs on their investments.

The company on 08/01/2019 published its latest quarterly earnings, with the report showing that the company recorded -0.04 earnings per share (EPS) during that period. This report was above the expectations of analysts of -0.06 by 0.02. The revenue by the firm was 126.35M for the quarter.

The shares of GoPro Inc. (GPRO) dropped by -5.00%, leading to a loss of -$0.19 per share, and saw GPRO end the trading session at $3.61 on Friday 10/18/19. GPRO started the trading session at $3.80, before reaching a daily high of $3.818. It wasn’t able to sustain that growth though and soon jumped to hit a daily low of $3.575.

The trading volume on Friday stood at 3881249, which was below the stock’s 3-month average volume of 5.58 million shares, out of a total 124.31M shares. As the price of the stock dipped, the market valuation of the company dropped to 585.69 million.

The shares of RingCentral Inc. (NYSE: RNG) went down by -5.00% by the end of the recent trading session. This movement saw its price plunge to close at $161.67, which was lower than the previous closing price of $170.17. Over the past one week, the price of RNG has slipped by -6.79%, while it has recorded a gain of 21.26% over the past one month. Its three-month performance saw RNG gain 33.63% while its six-month performance saw it surge by 49.17%. The situation is different though over the past one year, as the stock price went up by 98.78%, while its year-to-date (YTD) price performance jumped by 96.11%. The stock price has gone up by +35.85% compared to its 90-day low, while it is down -9.17% compared to its 90-day high price.

Let’s take a look at its short, medium and long-term indicators. Composite Indicators shows that Trendspotter rated the stock as a Buy. In the short-term, the stock has a 20-day average volume of 1,679,060 shares, with the short-term indicators averagely rating the stock as a 100% Buy. A look at its medium-term indicators reveals that it has a 50-Day average volume of 1,091,644 shares and the indicators have an average rating of 100% Buy. The last indicators, the long-term see RNG stock with a 100-Day average volume of 922,222 shares, giving it an average rating of 100% Buy. A look at the general picture of all short, medium and long-term indicators leaves RNG with an average rating of 100% Buy.

Several brokerage firms sent out their reports RNG stock not long ago. In its report sent out on October 07, 2019, JP Morgan lowered its ratings on RNG from a Neutral to a Overweight. In an earlier report on July 30, 2019, Needham Reiterated the stock to a Buy. BofA/Merrill meanwhile in its report on July 30, 2019 Reiterated its rating of the stock to “Buy”.

In a recent SEC filing, the company revealed that 370 institutions currently hold the RNG stock. In the last quarter, a 71,258,251 RNG shares were in the possession of institutions. On the other hand, the company recorded 60 new institutions who bought it their stock, while 51 institutions sold their entire RNG reserve. Of the current institutions investing in the stock, 169 increased their investment while 161 decreased their investment in the stock.