Gogoro Inc. (NASDAQ:GGR) Short Interest Down 6.1% in November

Gogoro Inc. (NASDAQ:GGR) was the recipient of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 3,360,000 shares, a decrease of 6.1% from the November 15th total of 3,580,000 shares. Approximately 1.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,780,000 shares, the days-to-cover ratio is currently 1.9 days.

Analyst Ratings Changes

Several research firms have commented on GGR. Benchmark reaffirmed a “hold” rating on shares of Gogoro in a research note on Monday, November 18th. Citigroup reissued a “neutral” rating and issued a $0.50 target price (down from $2.30) on shares of Gogoro in a research report on Friday, November 15th.

Gogoro Trading Down 2.6 %

Shares of NASDAQ:GGR traded down $0.02 during trading on Tuesday, reaching $0.57. 813,794 shares of the stock were exchanged, compared to its average volume of 647,946. The firm has a market cap of $166.71 million, a price-to-earnings ratio of -1.81 and a beta of 0.61. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.02 and a current ratio of 1.29. Gogoro has a 12-month low of $0.40 and a 12-month high of $2.69. The firm’s 50-day moving average price is $0.54 and its 200 day moving average price is $1.00.

Institutional Investors Weigh In On Gogoro

A number of institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its position in Gogoro by 76.7% during the 2nd quarter. Renaissance Technologies LLC now owns 93,100 shares of the company’s stock worth $143,000 after acquiring an additional 40,400 shares during the period. Jane Street Group LLC grew its position in Gogoro by 113.0% in the 3rd quarter. Jane Street Group LLC now owns 89,216 shares of the company’s stock valued at $47,000 after buying an additional 47,336 shares in the last quarter. State Street Corp lifted its stake in shares of Gogoro by 105.3% in the 3rd quarter. State Street Corp now owns 134,806 shares of the company’s stock worth $71,000 after acquiring an additional 69,142 shares during the period. Finally, Senator Investment Group LP bought a new position in shares of Gogoro in the second quarter valued at approximately $2,079,000. Institutional investors own 15.87% of the company’s stock.

About Gogoro

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.