Gogoro (NASDAQ:GGR) Shares Down 0.7% – Here’s Why

Gogoro Inc. (NASDAQ:GGR)’s stock price dropped 0.7% during mid-day trading on Thursday . The stock traded as low as $3.87 and last traded at $3.97. 13,666 shares were traded during mid-day trading, a decline of 12% from the average session volume of 15,551 shares. The stock had previously closed at $4.00.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Gogoro in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Gogoro has a consensus rating of “Sell”.

Gogoro Trading Down 0.7%

The business’s 50 day moving average price is $4.03 and its two-hundred day moving average price is $3.61. The company has a market capitalization of $58.64 million, a price-to-earnings ratio of -0.84 and a beta of 0.89. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.63 and a current ratio of 0.79.

Gogoro (NASDAQ:GGR) last posted its quarterly earnings data on Thursday, May 21st. The company reported ($0.50) earnings per share (EPS) for the quarter. Gogoro had a negative net margin of 24.98% and a negative return on equity of 55.12%. The company had revenue of $62.91 million during the quarter.

Hedge Funds Weigh In On Gogoro

Hedge funds have recently modified their holdings of the company. Citadel Advisors LLC raised its stake in shares of Gogoro by 9.5% in the 3rd quarter. Citadel Advisors LLC now owns 181,126 shares of the company’s stock worth $54,000 after buying an additional 15,749 shares in the last quarter. Jane Street Group LLC boosted its stake in Gogoro by 81.1% during the first quarter. Jane Street Group LLC now owns 382,394 shares of the company’s stock valued at $103,000 after buying an additional 171,273 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Gogoro by 185.8% during the third quarter. GSA Capital Partners LLP now owns 774,659 shares of the company’s stock valued at $233,000 after buying an additional 503,624 shares in the last quarter. 15.87% of the stock is currently owned by institutional investors and hedge funds.

About Gogoro

Gogoro Inc is a Taiwan-based technology company specializing in electric two-wheeler vehicles and battery-swapping infrastructure. Founded in 2011 by Horace Luke and Matt Taylor, the company pioneered the concept of a large-scale, on-demand battery-as-a-service (BaaS) network. Its flagship offering, the Gogoro Smartscooter, integrates a lightweight, high-performance electric drivetrain with a modular battery pack designed to be exchanged at convenient swap stations.

The core of Gogoro’s business is the Gogoro Energy Network, a proprietary system of battery-swapping stations that allows riders to quickly exchange depleted batteries for fully charged ones.