Short Interest in Gogoro Inc. (NASDAQ:GGR) Drops By 31.3%

Gogoro Inc. (NASDAQ:GGR) saw a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 1,980,000 shares, a decline of 31.3% from the February 13th total of 2,880,000 shares. Based on an average daily volume of 591,600 shares, the days-to-cover ratio is presently 3.3 days. Currently, 1.1% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, Benchmark restated a “hold” rating on shares of Gogoro in a report on Monday, November 18th.

Institutional Investors Weigh In On Gogoro

A number of institutional investors have recently made changes to their positions in the company. OLD Mission Capital LLC acquired a new position in Gogoro during the 4th quarter valued at approximately $28,000. Cubist Systematic Strategies LLC acquired a new position in Gogoro during the 4th quarter valued at approximately $37,000. Alpine Global Management LLC acquired a new position in Gogoro during the 4th quarter valued at approximately $40,000. SBI Securities Co. Ltd. acquired a new position in Gogoro during the 4th quarter valued at approximately $42,000. Finally, Jane Street Group LLC boosted its position in Gogoro by 113.0% during the 3rd quarter. Jane Street Group LLC now owns 89,216 shares of the company’s stock valued at $47,000 after purchasing an additional 47,336 shares during the period. 15.87% of the stock is currently owned by institutional investors.

Gogoro Price Performance

GGR stock opened at $0.36 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 1.58. Gogoro has a 52-week low of $0.36 and a 52-week high of $2.02. The stock’s 50 day moving average is $0.44 and its two-hundred day moving average is $0.56. The company has a market capitalization of $106.22 million, a PE ratio of -0.80 and a beta of 0.61.

Gogoro (NASDAQ:GGR) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22). Gogoro had a negative net margin of 39.69% and a negative return on equity of 53.23%. The firm had revenue of $73.01 million during the quarter. Analysts predict that Gogoro will post -0.12 earnings per share for the current fiscal year.

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.