Gogoro (NASDAQ:GGR) Releases Quarterly Earnings Results

Gogoro (NASDAQ:GGR) announced its earnings results on Monday. The company reported ($0.24) earnings per share for the quarter, FiscalAI reports. Gogoro had a negative return on equity of 55.12% and a negative net margin of 24.98%.The business had revenue of $70.62 million for the quarter.

Gogoro Price Performance

Shares of GGR opened at $2.27 on Monday. The company has a market cap of $33.53 million, a P/E ratio of -0.48 and a beta of 0.93. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.79 and a quick ratio of 0.63. Gogoro has a 12 month low of $2.20 and a 12 month high of $7.55. The stock has a fifty day moving average price of $3.34 and a 200 day moving average price of $3.58.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Gogoro in a research report on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On Gogoro

A hedge fund recently raised its stake in Gogoro stock. Citadel Advisors LLC boosted its stake in shares of Gogoro Inc. (NASDAQ:GGR) by 9.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,126 shares of the company’s stock after acquiring an additional 15,749 shares during the quarter. Citadel Advisors LLC owned 1.23% of Gogoro worth $54,000 as of its most recent SEC filing. Institutional investors own 15.87% of the company’s stock.

Gogoro Company Profile

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.