Gogoro (NASDAQ:GGR) Stock Price Down 0.7% – Here’s What Happened

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

Analysts Set New Price Targets

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

Gogoro Trading Up 0.8%

The stock has a market cap of $59.09 million, a price-to-earnings ratio of -0.85 and a beta of 0.89. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.79 and a quick ratio of 0.63. The company’s fifty day moving average price is $4.03 and its 200-day moving average price is $3.62.

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

Institutional Investors Weigh In On Gogoro

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

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.