Gogoro Inc. (NASDAQ:GGR) Short Interest Up 15.9% in September

Gogoro Inc. (NASDAQ:GGR) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 3,360,000 shares, an increase of 15.9% from the September 15th total of 2,900,000 shares. Based on an average daily volume of 1,210,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 1.9% of the company’s stock are short sold.

Gogoro Stock Up 5.0 %

Shares of Gogoro stock traded up $0.03 on Wednesday, reaching $0.59. The company’s stock had a trading volume of 2,077,008 shares, compared to its average volume of 573,825. The company has a market capitalization of $144.43 million, a price-to-earnings ratio of -2.67 and a beta of 0.36. The company has a quick ratio of 1.19, a current ratio of 1.46 and a debt-to-equity ratio of 1.32. Gogoro has a 52 week low of $0.48 and a 52 week high of $2.90. The firm’s fifty day simple moving average is $0.93 and its two-hundred day simple moving average is $1.32.

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

Institutional Investors Weigh In On Gogoro

A hedge fund recently raised its stake in Gogoro stock. Renaissance Technologies LLC lifted its holdings in Gogoro Inc. (NASDAQ:GGR) by 76.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 93,100 shares of the company’s stock after purchasing an additional 40,400 shares during the period. Renaissance Technologies LLC’s holdings in Gogoro were worth $143,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 15.87% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.