Gogoro Inc. (NASDAQ:GGR) Short Interest Update

Gogoro Inc. (NASDAQ:GGR) saw a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 3,360,000 shares, a decline of 6.1% from the November 15th total of 3,580,000 shares. Based on an average daily volume of 1,780,000 shares, the short-interest ratio is presently 1.9 days. Approximately 1.9% of the company’s shares are sold short.

Institutional Trading of Gogoro

Hedge funds have recently added to or reduced their stakes in the business. Senator Investment Group LP acquired a new stake in Gogoro in the second quarter worth about $2,079,000. State Street Corp grew its stake in Gogoro by 105.3% in the 3rd 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 during the period. Jane Street Group LLC raised its holdings in shares of Gogoro by 113.0% during the third 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 last quarter. Finally, Renaissance Technologies LLC grew 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 worth $143,000 after buying an additional 40,400 shares in the last quarter. 15.87% of the stock is owned by hedge funds and other institutional investors.

Gogoro Trading Down 2.6 %

Shares of NASDAQ:GGR traded down $0.02 during trading on Tuesday, reaching $0.57. The company’s stock had a trading volume of 813,794 shares, compared to its average volume of 647,946. Gogoro has a 12 month low of $0.40 and a 12 month high of $2.69. The stock has a market capitalization of $166.71 million, a PE ratio of -1.81 and a beta of 0.61. The firm’s 50 day simple moving average is $0.54 and its two-hundred day simple moving average is $1.00. The company has a current ratio of 1.29, a quick ratio of 1.02 and a debt-to-equity ratio of 1.32.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GGR. Benchmark restated a “hold” rating on shares of Gogoro in a research note on Monday, November 18th. Citigroup restated 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.

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.