Gogoro (NASDAQ:GGR) Receives Neutral Rating from Citigroup

Citigroup reaffirmed their neutral rating on shares of Gogoro (NASDAQ:GGR) in a research note published on Friday morning, Marketbeat Ratings reports. The brokerage currently has a $0.50 target price on the stock, down from their previous target price of $2.30.

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

Gogoro Price Performance

Shares of GGR stock opened at $0.48 on Friday. The firm has a market cap of $140.51 million, a price-to-earnings ratio of -1.49 and a beta of 0.38. Gogoro has a 12 month low of $0.40 and a 12 month high of $2.78. The company has a quick ratio of 1.19, a current ratio of 1.46 and a debt-to-equity ratio of 1.32. The stock has a 50-day moving average price of $0.60 and a 200 day moving average price of $1.14.

Institutional Trading of Gogoro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC grew its holdings in 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 purchasing an additional 47,336 shares during the period. State Street Corp raised 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. Renaissance Technologies LLC boosted its position in 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 purchasing an additional 40,400 shares during the period. Finally, Senator Investment Group LP purchased a new stake in shares of Gogoro during the 2nd quarter valued at approximately $2,079,000. 15.87% of the stock is owned by institutional investors.

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.