Gogoro (NASDAQ:GGR) Shares Down 2.7% - Here's Why

Key Points

• Gogoro Inc. shares decreased by 2.7% to $0.34, with a trading volume significantly down by 56% from the average.
• The company reported a quarterly loss of ($0.09) earnings per share and a negative net margin of 46.72%, indicating ongoing financial challenges.
• Institutional investors hold 15.87% of Gogoro's stock, with several hedge funds recently increasing their positions in the company.

Gogoro Inc. (NASDAQ:GGR - Get Free Report)'s share price fell 2.7% during trading on Wednesday . The company traded as low as $0.34 and last traded at $0.34. 144,631 shares changed hands during trading, a decline of 56% from the average session volume of 326,234 shares. The stock had previously closed at $0.34.

Gogoro Stock Performance

The stock has a market cap of $98.85 million, a P/E ratio of -0.73 and a beta of 0.97. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 2.41. The stock has a 50 day simple moving average of $0.33 and a 200 day simple moving average of $0.32.

Gogoro (NASDAQ:GGR - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter. Gogoro had a negative return on equity of 69.46% and a negative net margin of 46.72%.The company had revenue of $65.81 million for the quarter. On average, equities analysts expect that Gogoro Inc. will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Gogoro

Several hedge funds have recently bought and sold shares of the company. Jane Street Group LLC raised its position in shares of Gogoro by 81.1% in the 1st quarter. Jane Street Group LLC now owns 382,394 shares of the company's stock valued at $103,000 after buying an additional 171,273 shares in the last quarter. Alpine Global Management LLC bought a new position in Gogoro in the fourth quarter valued at approximately $40,000. Two Sigma Investments LP bought a new position in Gogoro in the fourth quarter valued at approximately $121,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Gogoro during the fourth quarter valued at approximately $37,000. 15.87% of the stock is owned by institutional investors.

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.

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