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

Gogoro Inc. (NASDAQ:GGR) saw a large decline in short interest in 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. Approximately 1.1% of the shares of the company are short sold. Based on an average trading volume of 591,600 shares, the days-to-cover ratio is currently 3.3 days.

Gogoro Trading Down 4.9 %

Shares of GGR stock opened at $0.36 on Tuesday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.69 and a current ratio of 0.89. Gogoro has a 1 year low of $0.36 and a 1 year high of $2.02. The stock has a fifty day moving average of $0.44 and a two-hundred day moving average of $0.56. The firm has a market capitalization of $106.22 million, a PE ratio of -0.80 and a beta of 0.61.

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

Institutional Trading of Gogoro

Several institutional investors have recently modified their holdings of the company. Alpine Global Management LLC acquired a new stake in shares of Gogoro in the fourth quarter valued at $40,000. Two Sigma Investments LP acquired a new stake in shares of Gogoro in the fourth quarter valued at $121,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Gogoro in the fourth quarter valued at $37,000. Jane Street Group LLC lifted its holdings in shares of Gogoro by 136.6% in the fourth quarter. Jane Street Group LLC now owns 211,121 shares of the company’s stock valued at $105,000 after buying an additional 121,905 shares during the period. Finally, OLD Mission Capital LLC acquired a new stake in shares of Gogoro in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 15.87% of the company’s stock.

Analysts Set New Price Targets

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

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.