Gogoro (NASDAQ:GGR) Trading Down 0.7% – Here’s Why

Gogoro Inc. (NASDAQ:GGR) dropped 0.7% on Thursday . The company traded as low as $3.87 and last traded at $3.97. Approximately 13,666 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 15,551 shares. The stock had previously closed at $4.00.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Gogoro in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Gogoro Stock Performance

The stock has a market cap of $58.64 million, a price-to-earnings ratio of -0.84 and a beta of 0.89. The company’s 50-day simple moving average is $4.03 and its 200-day simple moving average is $3.61. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 2.47.

Gogoro (NASDAQ:GGR) last announced its quarterly earnings data on Thursday, May 21st. The company reported ($0.50) EPS for the quarter. The company had revenue of $62.91 million for the quarter. Gogoro had a negative net margin of 24.98% and a negative return on equity of 55.12%.

Institutional Investors Weigh In On Gogoro

Hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP boosted its position in shares of 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 during the period. Jane Street Group LLC raised its holdings in Gogoro by 81.1% during the 1st quarter. Jane Street Group LLC now owns 382,394 shares of the company’s stock worth $103,000 after buying an additional 171,273 shares during the period. Finally, Citadel Advisors LLC raised its holdings 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 buying an additional 15,749 shares during the period. 15.87% of the stock is owned by hedge funds and other institutional investors.

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.