Gogoro’s (GGR) Neutral Rating Reiterated at Citigroup

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

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

Gogoro Price Performance

NASDAQ:GGR opened at $0.48 on Friday. The firm has a market capitalization of $141.04 million, a price-to-earnings ratio of -1.49 and a beta of 0.38. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.19 and a current ratio of 1.46. The stock has a fifty day moving average of $0.60 and a 200 day moving average of $1.14. Gogoro has a 52-week low of $0.40 and a 52-week high of $2.78.

Gogoro (NASDAQ:GGR) last posted its quarterly earnings data on Thursday, August 15th. The company reported ($0.08) earnings per share (EPS) for the quarter. Gogoro had a negative return on equity of 31.86% and a negative net margin of 24.00%. The company had revenue of $80.94 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GGR. Senator Investment Group LP bought a new stake in Gogoro during the 2nd quarter valued at $2,079,000. State Street Corp increased its position in shares of Gogoro by 105.3% in 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 during the period. Renaissance Technologies LLC increased its position in shares of Gogoro by 76.7% in the second quarter. Renaissance Technologies LLC now owns 93,100 shares of the company’s stock valued at $143,000 after acquiring an additional 40,400 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of 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 acquiring an additional 47,336 shares during the last quarter. Institutional investors own 15.87% of the company’s stock.

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.