Gogoro Inc. (NASDAQ:GGR) Short Interest Down 6.1% in November

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

Analyst Ratings Changes

Several research analysts have issued reports on the company. Benchmark restated a “hold” rating on shares of Gogoro in a research report on Monday, November 18th. Citigroup restated a “neutral” rating and set a $0.50 price objective (down previously from $2.30) on shares of Gogoro in a report on Friday, November 15th.

Institutional Investors Weigh In On Gogoro

A number of institutional investors and hedge funds have recently modified their holdings of the company. Senator Investment Group LP acquired a new stake in Gogoro during the 2nd quarter worth about $2,079,000. Renaissance Technologies LLC boosted its stake in shares of Gogoro by 76.7% in 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 during the last quarter. 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 worth $47,000 after acquiring an additional 47,336 shares during the period. Finally, State Street Corp raised its position in 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. Institutional investors and hedge funds own 15.87% of the company’s stock.

Gogoro Stock Performance

GGR stock opened at $0.55 on Wednesday. Gogoro has a one year low of $0.40 and a one year high of $2.69. The firm has a market cap of $162.58 million, a price-to-earnings ratio of -1.74 and a beta of 0.61. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.02 and a current ratio of 1.29. The firm has a 50-day simple moving average of $0.54 and a two-hundred day simple moving average of $1.00.

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.