Short Interest in Gogoro Inc. (NASDAQ:GGR) Expands By 16.5%

Gogoro Inc. (NASDAQ:GGR) was the target of a significant increase in short interest in February. As of February 27th, there was short interest totaling 57,573 shares, an increase of 16.5% from the February 12th total of 49,402 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily volume of 11,518 shares, the days-to-cover ratio is currently 5.0 days. Based on an average daily volume of 11,518 shares, the days-to-cover ratio is currently 5.0 days. Currently, 0.4% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Gogoro in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Hedge Funds Weigh In On Gogoro

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

Gogoro Price Performance

Shares of NASDAQ GGR opened at $3.46 on Wednesday. The firm’s 50-day moving average price is $3.25 and its 200-day moving average price is $4.19. Gogoro has a 1-year low of $2.72 and a 1-year high of $8.68. The firm has a market capitalization of $51.10 million, a P/E ratio of -0.64 and a beta of 0.90. The company has a current ratio of 0.77, a quick ratio of 0.60 and a debt-to-equity ratio of 2.75.

Gogoro (NASDAQ:GGR) last released its quarterly earnings data on Thursday, February 12th. The company reported ($1.41) earnings per share (EPS) for the quarter. The company had revenue of $74.40 million for the quarter. Gogoro had a negative return on equity of 53.99% and a negative net margin of 28.71%. Equities research analysts anticipate that Gogoro will post -0.12 earnings per share for the current fiscal year.

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.