Gogoro’s (GGR) Neutral Rating Reaffirmed at Citigroup

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

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

Gogoro Stock Performance

GGR stock remained flat at $0.48 during midday trading on Friday. The company had a trading volume of 550,305 shares, compared to its average volume of 638,972. The stock’s 50 day simple moving average is $0.60 and its 200-day simple moving average is $1.15. The firm has a market capitalization of $141.04 million, a price-to-earnings ratio of -1.49 and a beta of 0.38. Gogoro has a 52-week low of $0.40 and a 52-week 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.

Gogoro (NASDAQ:GGR) last posted its quarterly earnings results on Thursday, August 15th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $80.94 million during the quarter. Gogoro had a negative return on equity of 33.04% and a negative net margin of 19.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC grew its holdings in Gogoro by 113.0% during the 3rd 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 last quarter. Renaissance Technologies LLC lifted its position in shares of 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 in the last quarter. State Street Corp grew its stake in shares of 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 purchasing an additional 69,142 shares during the last quarter. Finally, Senator Investment Group LP acquired a new stake in shares of Gogoro in the second quarter valued at approximately $2,079,000. 15.87% of the stock is owned by institutional investors and hedge funds.

About Gogoro

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.