Gogoro Inc. (NASDAQ:GGR – Get Free Report) saw a significant drop in short interest in July. As of July 15th, there was short interest totalling 3,090,000 shares, a drop of 6.6% from the June 30th total of 3,310,000 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average trading volume of 209,500 shares, the short-interest ratio is currently 14.7 days.
Analyst Upgrades and Downgrades
Separately, Citigroup decreased their price objective on shares of Gogoro from $6.50 to $6.30 in a research note on Friday, May 12th.
Gogoro Stock Performance
GGR opened at $3.31 on Tuesday. Gogoro has a twelve month low of $2.83 and a twelve month high of $5.93. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.87 and a current ratio of 1.39. The company has a 50-day moving average price of $3.21 and a 200 day moving average price of $3.68.
Gogoro (NASDAQ:GGR – Get Free Report) last announced its quarterly earnings results on Thursday, May 11th. The company reported ($0.09) earnings per share (EPS) for the quarter. Gogoro had a negative return on equity of 36.43% and a negative net margin of 32.04%. The firm had revenue of $79.32 million for the quarter.
Institutional Investors Weigh In On Gogoro
A number of institutional investors and hedge funds have recently bought and sold shares of GGR. Toroso Investments LLC grew its position in Gogoro by 37.0% during the fourth quarter. Toroso Investments LLC now owns 15,079 shares of the company’s stock worth $48,000 after buying an additional 4,073 shares during the period. Geode Capital Management LLC lifted its stake in shares of Gogoro by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 129,471 shares of the company’s stock valued at $411,000 after buying an additional 15,642 shares during the period. Goldman Sachs Group Inc. purchased a new position in shares of Gogoro during the second quarter valued at approximately $142,000. First Trust Direct Indexing L.P. purchased a new position in shares of Gogoro during the first quarter valued at approximately $82,000. Finally, Balyasny Asset Management L.P. acquired a new position in Gogoro during the first quarter worth approximately $88,000. 24.19% of the stock is owned by hedge funds and other institutional investors.
Gogoro Company Profile
Gogoro Inc delivers and markets swappable electric fuel and intelligent light urban vehicles. It also operates platform for battery swapping networks, and a comprehensive ecosystem of enabling technologies for the vehicles, as well as develops smart Swap and Go battery system that delivers full power to electric-powered two-wheelers.