Gogoro Inc. (NASDAQ:GGR - Get Free Report) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 2,920,000 shares, a drop of 13.1% from the September 30th total of 3,360,000 shares. Approximately 1.7% of the company's shares are sold short. Based on an average daily volume of 1,400,000 shares, the short-interest ratio is currently 2.1 days.
Hedge Funds Weigh In On Gogoro
An institutional investor recently raised its position in Gogoro stock. Renaissance Technologies LLC lifted its holdings in Gogoro Inc. (NASDAQ:GGR - Free Report) by 76.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,100 shares of the company's stock after purchasing an additional 40,400 shares during the period. Renaissance Technologies LLC's holdings in Gogoro were worth $143,000 at the end of the most recent reporting period. Institutional investors own 15.87% of the company's stock.
Gogoro Stock Performance
Shares of Gogoro stock traded up $0.01 during trading hours on Tuesday, reaching $0.50. The company's stock had a trading volume of 1,114,640 shares, compared to its average volume of 608,547. The stock has a market cap of $148.27 million, a P/E ratio of -1.87 and a beta of 0.36. The company's 50 day simple moving average is $0.80 and its 200 day simple moving average is $1.24. Gogoro has a one year low of $0.44 and a one year high of $2.78. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.19 and a current ratio of 1.46.
Gogoro (NASDAQ:GGR - Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The company reported ($0.08) EPS for the quarter. Gogoro had a negative return on equity of 33.04% and a negative net margin of 19.11%. The company had revenue of $80.94 million for the quarter.
Analyst Ratings Changes
Separately, Benchmark downgraded shares of Gogoro from a "buy" rating to a "hold" rating in a research note on Monday, August 19th.
Get Our Latest Analysis on GGR
Gogoro Company Profile
(
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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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