Gogoro Inc. (NASDAQ:GGR) Short Interest Update

Gogoro Inc. (NASDAQ:GGR) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 2,920,000 shares, a decrease of 13.1% from the September 30th total of 3,360,000 shares. Based on an average trading volume of 1,400,000 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.7% of the company’s stock are short sold.

Institutional Investors Weigh In On Gogoro

A hedge fund recently bought a new stake in Gogoro stock. Senator Investment Group LP purchased a new position in Gogoro Inc. (NASDAQ:GGR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,350,000 shares of the company’s stock, valued at approximately $2,079,000. Senator Investment Group LP owned approximately 0.55% of Gogoro as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 15.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Benchmark downgraded Gogoro from a “buy” rating to a “hold” rating in a report on Monday, August 19th.

Gogoro Price Performance

Shares of GGR stock traded down $0.04 on Thursday, reaching $0.47. The company’s stock had a trading volume of 984,942 shares, compared to its average volume of 610,165. The company has a market capitalization of $137.59 million, a price-to-earnings ratio of -1.75 and a beta of 0.36. The stock’s fifty day simple moving average is $0.76 and its 200-day simple moving average is $1.23. The company has a current ratio of 1.46, a quick ratio of 1.19 and a debt-to-equity ratio of 1.32. Gogoro has a 1 year low of $0.44 and a 1 year high of $2.78.

Gogoro (NASDAQ:GGR) last released its earnings results on Thursday, August 15th. The company reported ($0.08) earnings per share (EPS) for the quarter. The firm 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%.

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.