NEW YORK (TheStreet) -- GoPro (GPRO) shares jumped as much as 7% on Monday after the company announced a new camera, and the stock is up another 1.2% in early Tuesday trading. The GoPro Hero+ LCD is a touchscreen camera that's only the company's second offering that features a built-in screen, according to CNET.
Last Thursday, GoPro shares rallied by up to 7% after CEO Nick Woodman announced that the company is developing a six-camera virtual-reality recording system and a drone. Analysts noted that the two offerings could add as much as $475 million to sales in the coming financial year.
GoPro is up 89% over the past 12 months, and down 6% year-to-date. Analysts blamed the recent weakness on concerns that competition is mounting in the point-of-view camera space.
The new camera is priced at $299 and will go on sale in the U.S. from June 7, according to the company. It features built-in Wi-Fi and Bluetooth, can record 1080p HD video, and boasts up to two hours of recording time.
At $130, the standard Hero camera is less than half the price of the new Hero+ LCD. But with no rear display for previewing what you're shooting, it's also much tougher to operate. (Also, its photo quality tops out at 5 megapixels.)
"This is really for the family outing, not for the action sports," commented Michael Pachter, an analyst who covers the stock for Wedbush Securities. "Obviously, if you're skiing or hang gliding, you're not going to need a touchscreen, because the camera is strapped to your head. This is more of a camera you'd use to make videos of your family with."