Gogoro (NASDAQ:GGR) Trading 2.4% Higher – Here’s Why

Shares of Gogoro Inc. (NASDAQ:GGR) rose 2.4% during mid-day trading on Thursday . The company traded as high as $0.42 and last traded at $0.42. Approximately 723,308 shares changed hands during mid-day trading, an increase of 1% from the average daily volume of 713,339 shares. The stock had previously closed at $0.41.

Analysts Set New Price Targets

Several research firms recently issued reports on GGR. 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 objective (down from $2.30) on shares of Gogoro in a research report on Friday, November 15th.

Gogoro Stock Performance

The company’s 50-day moving average price is $0.45 and its 200 day moving average price is $0.59. The stock has a market capitalization of $122.48 million, a PE ratio of -0.92 and a beta of 0.61. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.69 and a current ratio of 0.89.

Gogoro (NASDAQ:GGR) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.22). Gogoro had a negative return on equity of 53.23% and a negative net margin of 39.69%. The company had revenue of $73.01 million during the quarter. On average, equities research analysts expect that Gogoro Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gogoro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. OLD Mission Capital LLC purchased a new position in Gogoro during the fourth quarter valued at $28,000. Cubist Systematic Strategies LLC purchased a new position in Gogoro during the 4th quarter valued at about $37,000. Alpine Global Management LLC bought a new stake in Gogoro during the fourth quarter worth about $40,000. SBI Securities Co. Ltd. purchased a new stake in Gogoro in the fourth quarter worth about $42,000. Finally, Jane Street Group LLC grew its holdings in Gogoro by 113.0% in the third quarter. Jane Street Group LLC now owns 89,216 shares of the company’s stock worth $47,000 after purchasing an additional 47,336 shares during the period. 15.87% of the stock is owned by hedge funds and other institutional investors.

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.