Gogoro’s (GGR) “Hold” Rating Reaffirmed at Benchmark

Benchmark restated their hold rating on shares of Gogoro (NASDAQ:GGR) in a research note published on Monday,Benzinga reports.

Separately, Citigroup reiterated a “neutral” rating and issued a $0.50 price objective (down from $2.30) on shares of Gogoro in a research report on Friday.

Gogoro Price Performance

NASDAQ:GGR opened at $0.48 on Monday. Gogoro has a 1 year low of $0.40 and a 1 year high of $2.78. The stock has a 50-day moving average price of $0.60 and a two-hundred day moving average price of $1.14. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.29 and a quick ratio of 1.02.

Institutional Trading of Gogoro

A number of institutional investors have recently modified their holdings of the company. Senator Investment Group LP acquired a new position in Gogoro during the second quarter worth $2,079,000. State Street Corp increased its stake in Gogoro by 105.3% in the 3rd quarter. State Street Corp now owns 134,806 shares of the company’s stock valued at $71,000 after buying an additional 69,142 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Gogoro by 76.7% during the 2nd quarter. Renaissance Technologies LLC now owns 93,100 shares of the company’s stock worth $143,000 after buying an additional 40,400 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Gogoro by 113.0% during the 3rd quarter. Jane Street Group LLC now owns 89,216 shares of the company’s stock worth $47,000 after buying an additional 47,336 shares during the last quarter. 15.87% of the stock is currently owned by institutional investors.

Gogoro Company Profile

Gogoro Inc provides battery swapping services in Taiwan, India, and internationally. It also develops Swap and Go battery system that delivers full power to electric-powered two-wheelers. In addition, the company offers battery swapping technology in the form of hardware, software, and service, including Gogoro Smart Batteries, GoStation, Gogoro Network Software & Battery Management Systems, Smartscooter, GoReward, and related components and kits.