Gogoro (NASDAQ:GGR) Shares Up 2.7% – Here’s Why
by Sarita Garza · The Markets DailyShares of Gogoro Inc. (NASDAQ:GGR – Get Free Report) were up 2.7% during trading on Wednesday . The stock traded as high as $3.73 and last traded at $3.5850. Approximately 27,219 shares traded hands during trading, an increase of 111% from the average daily volume of 12,878 shares. The stock had previously closed at $3.49.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Gogoro in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Gogoro has a consensus rating of “Sell”.
View Our Latest Report on Gogoro
Gogoro Stock Performance
The company has a current ratio of 0.95, a quick ratio of 0.77 and a debt-to-equity ratio of 2.62. The firm’s fifty day moving average is $3.83 and its 200 day moving average is $5.54. The company has a market cap of $52.95 million, a PE ratio of -0.40 and a beta of 0.88.
Gogoro (NASDAQ:GGR – Get Free Report) last announced its earnings results on Tuesday, November 11th. The company reported ($1.01) earnings per share (EPS) for the quarter. The company had revenue of $77.65 million during the quarter. Gogoro had a negative net margin of 47.07% and a negative return on equity of 80.94%. As a group, research analysts predict that Gogoro Inc. will post -0.12 EPS for the current fiscal year.
Hedge Funds Weigh In On Gogoro
A number of hedge funds have recently made changes to their positions in the company. Jane Street Group LLC boosted its stake in shares of Gogoro by 81.1% in the first quarter. Jane Street Group LLC now owns 382,394 shares of the company’s stock worth $103,000 after acquiring an additional 171,273 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in Gogoro by 185.8% in the 3rd quarter. GSA Capital Partners LLP now owns 774,659 shares of the company’s stock valued at $233,000 after purchasing an additional 503,624 shares in the last quarter. Finally, Citadel Advisors LLC boosted its stake in Gogoro by 9.5% during the 3rd quarter. Citadel Advisors LLC now owns 181,126 shares of the company’s stock worth $54,000 after purchasing an additional 15,749 shares during the last quarter. Institutional investors and hedge funds own 15.87% of the company’s stock.
About Gogoro
Gogoro Inc is a Taiwan-based technology company specializing in electric two-wheeler vehicles and battery-swapping infrastructure. Founded in 2011 by Horace Luke and Matt Taylor, the company pioneered the concept of a large-scale, on-demand battery-as-a-service (BaaS) network. Its flagship offering, the Gogoro Smartscooter, integrates a lightweight, high-performance electric drivetrain with a modular battery pack designed to be exchanged at convenient swap stations.
The core of Gogoro’s business is the Gogoro Energy Network, a proprietary system of battery-swapping stations that allows riders to quickly exchange depleted batteries for fully charged ones.