Gogoro Inc. (NASDAQ:GGR) Sees Significant Decline in Short Interest

Gogoro Inc. (NASDAQ:GGR) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 1,980,000 shares, a decrease of 31.3% from the February 13th total of 2,880,000 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily volume of 591,600 shares, the days-to-cover ratio is presently 3.3 days.

Wall Street Analyst Weigh In

Separately, Benchmark reissued a “hold” rating on shares of Gogoro in a research note on Monday, November 18th.

Gogoro Stock Down 4.9 %

NASDAQ GGR traded down $0.02 during trading hours on Monday, reaching $0.36. 590,681 shares of the company’s stock were exchanged, compared to its average volume of 716,766. The company’s 50-day moving average is $0.44 and its two-hundred day moving average is $0.56. Gogoro has a one year low of $0.36 and a one year high of $2.02. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.69 and a current ratio of 0.89. The company has a market capitalization of $106.22 million, a price-to-earnings ratio of -0.80 and a beta of 0.61.

Gogoro (NASDAQ:GGR) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22). Gogoro had a negative return on equity of 53.23% and a negative net margin of 39.69%. The firm had revenue of $73.01 million for the quarter. On average, analysts forecast that Gogoro will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Gogoro

A number of large investors have recently bought and sold shares of GGR. State Street Corp boosted its position in Gogoro by 105.3% during the 3rd quarter. State Street Corp now owns 134,806 shares of the company’s stock worth $71,000 after acquiring an additional 69,142 shares during the last quarter. Jane Street Group LLC boosted its position in 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 acquiring an additional 47,336 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Gogoro by 130.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 563,316 shares of the company’s stock worth $299,000 after acquiring an additional 318,897 shares during the last quarter. Aspiring Ventures LLC acquired a new position in Gogoro during the 4th quarter worth approximately $495,000. Finally, SBI Securities Co. Ltd. acquired a new position in Gogoro during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 15.87% of the company’s stock.

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.