Citigroup Reaffirms “Neutral” Rating for Gogoro (NASDAQ:GGR)

Gogoro (NASDAQ:GGR)‘s stock had its “neutral” rating reaffirmed by equities researchers at Citigroup in a research note issued to investors on Friday,Benzinga reports. They presently have a $0.50 target price on the stock, down from their previous target price of $2.30. Citigroup’s target price indicates a potential upside of 5.11% from the stock’s current price.

Separately, Benchmark downgraded Gogoro from a “buy” rating to a “hold” rating in a report on Monday, August 19th.

Gogoro Price Performance

GGR stock opened at $0.48 on Friday. The stock’s 50 day moving average price is $0.62 and its 200 day moving average price is $1.16. The firm has a market cap of $140.36 million, a P/E ratio of -1.76 and a beta of 0.38. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.19 and a current ratio of 1.46. Gogoro has a 1 year low of $0.40 and a 1 year high of $2.78.

Gogoro (NASDAQ:GGR) last posted its quarterly earnings data on Thursday, August 15th. The company reported ($0.08) EPS for the quarter. The company had revenue of $80.94 million for the quarter. Gogoro had a negative net margin of 19.11% and a negative return on equity of 33.04%.

Institutional Investors Weigh In On Gogoro

An institutional investor recently raised its position in Gogoro stock. Renaissance Technologies LLC raised its position in Gogoro Inc. (NASDAQ:GGR) by 76.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,100 shares of the company’s stock after acquiring an additional 40,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Gogoro were worth $143,000 at the end of the most recent quarter. Institutional investors own 15.87% of the company’s stock.

About Gogoro

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.