Gogoro Inc. (NASDAQ:GGR) Short Interest Update

Gogoro Inc. (NASDAQ:GGR) was the target of a significant decrease in short interest in 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. Currently, 1.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,090,000 shares, the days-to-cover ratio is currently 2.7 days.

Gogoro Trading Up 0.1 %

GGR stock traded up $0.00 during midday trading on Friday, hitting $0.47. The company had a trading volume of 429,902 shares, compared to its average volume of 731,252. The stock has a market cap of $138.06 million, a price-to-earnings ratio of -1.46 and a beta of 0.67. Gogoro has a 52 week low of $0.40 and a 52 week high of $2.27. The company has a current ratio of 1.29, a quick ratio of 1.02 and a debt-to-equity ratio of 1.32. The stock’s 50 day moving average price is $0.53 and its 200 day moving average price is $0.83.

Wall Street Analysts Forecast Growth

GGR has been the topic of several recent research reports. Citigroup reaffirmed a “neutral” rating and set a $0.50 target price (down previously from $2.30) on shares of Gogoro in a report on Friday, November 15th. Benchmark reaffirmed a “hold” rating on shares of Gogoro in a research note on Monday, November 18th.

Institutional Inflows and Outflows

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

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.