Gogoro Inc. (NASDAQ:GGR) Sees Significant Decline in Short Interest

Gogoro Inc. (NASDAQ:GGR) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 1,980,000 shares, a decrease of 31.3% from the February 13th total of 2,880,000 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 591,600 shares, the short-interest ratio is currently 3.3 days.

Gogoro Trading Down 4.9 %

Gogoro stock traded down $0.02 during trading hours on Monday, reaching $0.36. 590,681 shares of the company’s stock traded hands, compared to its average volume of 716,766. 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 has a fifty-two week low of $0.36 and a fifty-two week high of $2.02. The firm has a market capitalization of $106.22 million, a price-to-earnings ratio of -0.80 and a beta of 0.61. The firm’s 50 day moving average is $0.44 and its 200-day moving average is $0.56.

Gogoro (NASDAQ:GGR) last released its earnings results on Thursday, February 13th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22). Gogoro had a negative net margin of 39.69% and a negative return on equity of 53.23%. The business had revenue of $73.01 million for the quarter. On average, analysts predict that Gogoro will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. OLD Mission Capital LLC bought a new stake in shares of Gogoro in the 4th quarter valued at about $28,000. Cubist Systematic Strategies LLC bought a new stake in shares of Gogoro in the 4th quarter valued at about $37,000. Alpine Global Management LLC bought a new stake in shares of Gogoro in the 4th quarter valued at about $40,000. SBI Securities Co. Ltd. bought a new stake in shares of Gogoro in the 4th quarter valued at about $42,000. Finally, Jane Street Group LLC increased its stake in shares of 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 acquiring an additional 47,336 shares during the last quarter. 15.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Benchmark reiterated a “hold” rating on shares of Gogoro in a research report on Monday, November 18th.

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.