Gogoro (NASDAQ:GGR) Stock Price Up 2.4% – Still a Buy?

Shares of Gogoro Inc. (NASDAQ:GGR) rose 2.4% on Thursday . The company traded as high as $0.42 and last traded at $0.42. Approximately 723,308 shares changed hands during trading, an increase of 1% from the average daily volume of 713,339 shares. The stock had previously closed at $0.41.

Analyst Ratings Changes

Several brokerages have recently weighed in on GGR. Citigroup reiterated a “neutral” rating and set a $0.50 price target (down from $2.30) on shares of Gogoro in a research report on Friday, November 15th. Benchmark reiterated a “hold” rating on shares of Gogoro in a research note on Monday, November 18th.

Gogoro Price Performance

The business has a 50 day simple moving average of $0.45 and a two-hundred day simple moving average of $0.59. The firm has a market capitalization of $122.48 million, a P/E ratio of -0.92 and a beta of 0.61. 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 (NASDAQ:GGR) last announced its earnings results on Thursday, February 13th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22). The company had revenue of $73.01 million during the quarter. Gogoro had a negative net margin of 39.69% and a negative return on equity of 53.23%. On average, sell-side analysts expect that Gogoro Inc. will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Gogoro

Large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of Gogoro by 113.0% during the 3rd quarter. Jane Street Group LLC now owns 89,216 shares of the company’s stock valued at $47,000 after purchasing an additional 47,336 shares during the last quarter. OLD Mission Capital LLC purchased a new stake in shares of Gogoro in the 4th quarter valued at $28,000. State Street Corp grew its holdings in shares of Gogoro by 105.3% during the 3rd quarter. State Street Corp now owns 134,806 shares of the company’s stock valued at $71,000 after purchasing an additional 69,142 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Gogoro in the 4th quarter worth $37,000. Finally, Alpine Global Management LLC bought a new stake in Gogoro in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 15.87% of the company’s stock.

Gogoro Company Profile

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.