Gogoro Inc. (NASDAQ:GGR - Get Free Report) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 3,360,000 shares, a decline of 6.1% from the November 15th total of 3,580,000 shares. Currently, 1.9% of the shares of the stock are short sold. Based on an average trading volume of 1,780,000 shares, the short-interest ratio is currently 1.9 days.
Gogoro Trading Down 3.3 %
Shares of GGR stock traded down $0.02 during trading hours on Monday, hitting $0.58. 480,050 shares of the company's stock traded hands, compared to its average volume of 647,357. The company has a quick ratio of 1.02, a current ratio of 1.29 and a debt-to-equity ratio of 1.32. Gogoro has a 12 month low of $0.40 and a 12 month high of $2.69. The stock has a market cap of $171.14 million, a PE ratio of -1.81 and a beta of 0.61. The stock's 50 day simple moving average is $0.54 and its 200 day simple moving average is $1.00.
Institutional Investors Weigh In On Gogoro
Institutional investors have recently made changes to their positions in the stock. Senator Investment Group LP acquired a new position in Gogoro in the second quarter valued at approximately $2,079,000. State Street Corp lifted its position in shares of Gogoro by 105.3% during the 3rd quarter. State Street Corp now owns 134,806 shares of the company's stock valued at $71,000 after acquiring an additional 69,142 shares during the period. Jane Street Group LLC boosted its stake in Gogoro by 113.0% during the third 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 in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Gogoro by 76.7% during the second quarter. Renaissance Technologies LLC now owns 93,100 shares of the company's stock worth $143,000 after acquiring an additional 40,400 shares in the last quarter. Institutional investors own 15.87% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Benchmark reissued a "hold" rating on shares of Gogoro in a research note on Monday, November 18th. Citigroup reiterated a "neutral" rating and issued a $0.50 price target (down from $2.30) on shares of Gogoro in a research note on Friday, November 15th.
Check Out Our Latest Analysis on GGR
About Gogoro
(
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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.
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