Gogoro (NASDAQ:GGR) Shares Up 2.7% – Here’s Why

Gogoro Inc. (NASDAQ:GGR) traded up 2.7% during trading on Wednesday . The company traded as high as $3.73 and last traded at $3.5850. 27,219 shares changed hands during mid-day trading, an increase of 111% from the average session volume of 12,878 shares. The stock had previously closed at $3.49.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Gogoro in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Gogoro Stock Up 2.7%

The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.77 and a current ratio of 0.95. The business has a 50 day simple moving average of $3.83 and a 200-day simple moving average of $5.54. The firm has a market capitalization of $52.95 million, a price-to-earnings ratio of -0.40 and a beta of 0.88.

Gogoro (NASDAQ:GGR) last announced its quarterly earnings results on Tuesday, November 11th. The company reported ($1.01) earnings per share for the quarter. Gogoro had a negative net margin of 47.07% and a negative return on equity of 80.94%. The firm had revenue of $77.65 million for the quarter. On average, equities analysts expect that Gogoro Inc. will post -0.12 EPS for the current year.

Institutional Trading of Gogoro

A number of hedge funds and other institutional investors have recently made changes to their positions in GGR. GSA Capital Partners LLP grew its position in Gogoro by 185.8% in the third quarter. GSA Capital Partners LLP now owns 774,659 shares of the company’s stock worth $233,000 after acquiring an additional 503,624 shares during the period. Jane Street Group LLC raised its position in Gogoro by 81.1% in the first quarter. Jane Street Group LLC now owns 382,394 shares of the company’s stock valued at $103,000 after purchasing an additional 171,273 shares during the period. Finally, Citadel Advisors LLC lifted its stake in shares of Gogoro by 9.5% in the 3rd quarter. Citadel Advisors LLC now owns 181,126 shares of the company’s stock valued at $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.