Short Interest in Gogoro Inc. (NASDAQ:GGR) Decreases By 13.1%

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 shares are short sold.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Gogoro

A hedge fund recently raised its stake in Gogoro stock. Renaissance Technologies LLC lifted its holdings in shares of Gogoro Inc. (NASDAQ:GGR) by 76.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,100 shares of the company’s stock after purchasing an additional 40,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Gogoro were worth $143,000 as of its most recent SEC filing. 15.87% of the stock is owned by hedge funds and other institutional investors.

Gogoro Trading Up 1.4 %

Shares of NASDAQ:GGR traded up $0.01 during mid-day trading on Tuesday, hitting $0.50. The stock had a trading volume of 1,033,428 shares, compared to its average volume of 608,159. Gogoro has a 12-month low of $0.44 and a 12-month high of $2.78. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.19 and a current ratio of 1.46. The company has a market cap of $148.63 million, a PE ratio of -1.85 and a beta of 0.36. The company’s 50 day moving average is $0.80 and its 200-day moving average is $1.24.

Gogoro (NASDAQ:GGR) last released its earnings results on Thursday, August 15th. The company reported ($0.08) earnings per share (EPS) for the quarter. Gogoro had a negative return on equity of 33.04% and a negative net margin of 19.11%. The company had revenue of $80.94 million during the quarter.

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.