Gogoro Inc. (NASDAQ:GGR) Short Interest Down 12.9% in December

Gogoro Inc. (NASDAQ:GGR) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 2,980,000 shares, a decrease of 12.9% from the December 15th total of 3,420,000 shares. Based on an average daily trading volume, of 1,090,000 shares, the days-to-cover ratio is currently 2.7 days. Approximately 1.7% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GGR shares. Benchmark reissued a “hold” rating on shares of Gogoro in a research note on Monday, November 18th. Citigroup reiterated a “neutral” rating and set a $0.50 target price (down from $2.30) on shares of Gogoro in a research report on Friday, November 15th.

Gogoro Trading Up 0.1 %

NASDAQ:GGR traded up $0.00 during midday trading on Friday, hitting $0.47. The stock had a trading volume of 429,902 shares, compared to its average volume of 731,252. The company has a quick ratio of 1.02, a current ratio of 1.29 and a debt-to-equity ratio of 1.32. The stock has a 50-day moving average of $0.53 and a 200 day moving average of $0.83. The company has a market capitalization of $138.06 million, a price-to-earnings ratio of -1.46 and a beta of 0.67. Gogoro has a one year low of $0.40 and a one year high of $2.27.

Hedge Funds Weigh In On Gogoro

Several institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in Gogoro by 76.7% during the second quarter. Renaissance Technologies LLC now owns 93,100 shares of the company’s stock valued at $143,000 after buying an additional 40,400 shares during the period. Jane Street Group LLC increased its holdings in shares of Gogoro by 113.0% in the 3rd quarter. Jane Street Group LLC now owns 89,216 shares of the company’s stock valued at $47,000 after acquiring an additional 47,336 shares during the period. State Street Corp raised its position in shares of Gogoro by 105.3% in the 3rd quarter. State Street Corp now owns 134,806 shares of the company’s stock worth $71,000 after acquiring an additional 69,142 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Gogoro by 130.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 563,316 shares of the company’s stock worth $299,000 after purchasing an additional 318,897 shares during the last quarter. Finally, Senator Investment Group LP bought a new stake in Gogoro during the second quarter valued at about $2,079,000. Hedge funds and other institutional investors own 15.87% of the company’s stock.

Gogoro Company Profile

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.