Gogoro (NASDAQ:GGR) Given “Neutral” Rating at Citigroup

Gogoro (NASDAQ:GGR)‘s stock had its “neutral” rating reaffirmed by research analysts at Citigroup in a report released on Friday, Marketbeat reports. They currently have a $0.50 target price on the stock, down from their previous target price of $2.30. Citigroup’s price objective points to a potential upside of 4.60% from the stock’s previous close.

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

Gogoro Price Performance

Shares of GGR opened at $0.48 on Friday. The company has a 50-day simple moving average of $0.60 and a two-hundred day simple moving average of $1.14. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.19 and a current ratio of 1.46. Gogoro has a one year low of $0.40 and a one year high of $2.78.

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

Hedge Funds Weigh In On Gogoro

A number of institutional investors and hedge funds have recently made changes to their positions in GGR. Renaissance Technologies LLC boosted its position in shares of 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 purchasing an additional 40,400 shares in the last quarter. Senator Investment Group LP purchased a new position in Gogoro during the second quarter valued at $2,079,000. State Street Corp raised its stake 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 buying an additional 69,142 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in Gogoro by 113.0% in 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 in 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.