Gogoro (NASDAQ:GGR) Stock Price Down 4.2% – Here’s Why

Gogoro Inc. (NASDAQ:GGR) shares fell 4.2% during mid-day trading on Thursday . The company traded as low as $3.65 and last traded at $3.66. 12,991 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 38,192 shares. The stock had previously closed at $3.82.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Gogoro in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $10.00.

Gogoro Stock Down 4.2%

The company has a debt-to-equity ratio of 2.41, a current ratio of 1.01 and a quick ratio of 0.82. The stock has a fifty day moving average price of $5.90 and a two-hundred day moving average price of $5.97. The company has a market cap of $54.06 million, a P/E ratio of -0.40 and a beta of 0.93.

Gogoro (NASDAQ:GGR) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($1.80) earnings per share for the quarter. Gogoro had a negative net margin of 46.72% and a negative return on equity of 69.46%. The company had revenue of $65.81 million for the quarter. On average, research analysts expect that Gogoro Inc. will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Gogoro stock. Jane Street Group LLC lifted its position in shares of Gogoro Inc. (NASDAQ:GGR) by 81.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 382,394 shares of the company’s stock after purchasing an additional 171,273 shares during the period. Jane Street Group LLC owned 0.13% of Gogoro worth $103,000 at the end of the most recent quarter. 15.87% of the stock is currently owned by hedge funds and other 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.