Gogoro (NASDAQ:GGR) Stock Falls 6.3% – Here’s Why

Gogoro Inc. (NASDAQ:GGR) was down 6.3% during trading on Wednesday. The company traded as low as $2.87 and last traded at $2.99. 18,835 shares were traded during mid-day trading, an increase of 153% from the average daily volume of 7,453 shares. The stock had previously closed at $3.19.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Gogoro in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Gogoro currently has a consensus rating of “Sell”.

Gogoro Stock Up 12.5%

The firm’s 50 day moving average is $2.71 and its 200-day moving average is $3.46. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 2.31. The firm has a market cap of $46.53 million, a PE ratio of -1.00 and a beta of 0.90.

Gogoro (NASDAQ:GGR) last announced its quarterly earnings data on Monday, August 24th. The company reported ($0.24) earnings per share for the quarter. The company had revenue of $70.62 million for the quarter. Gogoro had a negative return on equity of 41.32% and a negative net margin of 16.98%.

Insider Transactions at Gogoro

In other Gogoro news, Director Chung-Yao Yin acquired 14,158,991 shares of the company’s stock in a transaction dated Wednesday, October 7th. The stock was bought at an average price of $2.48 per share, with a total value of $35,114,297.68. Following the completion of the transaction, the director directly owned 20,254,338 shares of the company’s stock, valued at approximately $50,230,758.24. The trade was a 232.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gogoro

An institutional investor recently bought a new stake in Gogoro stock. Citadel Advisors LLC bought a new stake in Gogoro Inc. (NASDAQ:GGR) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 23,695 shares of the company’s stock, valued at approximately $94,000. Citadel Advisors LLC owned approximately 0.16% of Gogoro as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 15.87% of the company’s stock.

About Gogoro

Gogoro Inc is a Taiwan-based technology company that develops electric two-wheelers, battery-swapping infrastructure and related mobility services. Its products include smart electric scooters, portable batteries, charging equipment and software platforms designed to support connected urban transportation.

The company’s principal service is the Gogoro Network, a subscription-based battery-swapping platform that allows riders to exchange depleted batteries for charged ones at automated GoStation locations.