Short Interest in Gogoro Inc. (NASDAQ:GGR) Decreases By 13.1%

by · The Cerbat Gem

Gogoro Inc. (NASDAQ:GGR – Get Free Report) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 2,920,000 shares, a drop of 13.1% from the September 30th total of 3,360,000 shares. Based on an average daily trading volume, of 1,400,000 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.7% of the shares of the company are sold short.

Institutional Trading of Gogoro

An institutional investor recently raised its position in Gogoro stock. Renaissance Technologies LLC lifted its holdings in shares of Gogoro Inc. (NASDAQ:GGR – Free Report) by 76.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 93,100 shares of the company’s stock after acquiring an additional 40,400 shares during the period. Renaissance Technologies LLC’s holdings in Gogoro were worth $143,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 15.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Benchmark lowered shares of Gogoro from a “buy” rating to a “hold” rating in a research note on Monday, August 19th.

Read Our Latest Research Report on Gogoro

Gogoro Stock Performance

NASDAQ GGR traded up $0.01 during midday trading on Tuesday, hitting $0.50. The company had a trading volume of 1,033,428 shares, compared to its average volume of 608,159. The company has a quick ratio of 1.19, a current ratio of 1.46 and a debt-to-equity ratio of 1.32. The stock has a market cap of $148.63 million, a price-to-earnings ratio of -1.85 and a beta of 0.36. The firm has a fifty day simple moving average of $0.80 and a two-hundred day simple moving average of $1.24. Gogoro has a fifty-two week low of $0.44 and a fifty-two week high of $2.78.

Gogoro (NASDAQ:GGR – Get Free Report) last posted its quarterly earnings results on Thursday, August 15th. The company reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $80.94 million during the quarter. Gogoro had a negative return on equity of 33.04% and a negative net margin of 19.11%.

Gogoro Company Profile

(Get Free Report)

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.

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