Gogoro Inc. (NASDAQ:GGR) Shares Acquired by State Street Corp

State Street Corp increased its stake in shares of Gogoro Inc. (NASDAQ:GGR) by 105.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,806 shares of the company’s stock after purchasing an additional 69,142 shares during the quarter. State Street Corp’s holdings in Gogoro were worth $71,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Renaissance Technologies LLC grew its stake in Gogoro by 76.7% in the 2nd quarter. Renaissance Technologies LLC now owns 93,100 shares of the company’s stock worth $143,000 after acquiring an additional 40,400 shares during the period. Institutional investors own 15.87% of the company’s stock.

Analysts Set New Price Targets

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

Gogoro Stock Performance

Gogoro stock opened at $0.48 on Friday. Gogoro Inc. has a 12-month low of $0.40 and a 12-month high of $2.50. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.29 and a quick ratio of 1.02. The company has a market capitalization of $140.45 million, a price-to-earnings ratio of -1.49 and a beta of 0.61. The firm’s fifty day moving average price is $0.52 and its 200 day moving average price is $0.91.

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.