Gogoro (NASDAQ:GGR) Shares Gap Down - Time to Sell?

Key Points

• Gogoro Inc. shares experienced a gap down, opening at $5.69 compared to a previous close of $6.00, with the stock last trading at $6.02.
• Weiss Ratings has maintained a "sell (e+)" rating on Gogoro, indicating a lack of confidence in the stock, which currently has an average target price of $10.00.
• The company's recent earnings report showed a loss of ($1.80) EPS and a revenue of $65.81 million, highlighting financial challenges with a negative return on equity of 69.46%.

Gogoro Inc. (NASDAQ:GGR - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $6.00, but opened at $5.69. Gogoro shares last traded at $6.02, with a volume of 20,018 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Gogoro in a research note on Saturday, September 27th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $10.00.

Gogoro Stock Performance

The stock has a market capitalization of $1.79 billion, a P/E ratio of -13.20 and a beta of 0.93. The stock's 50-day simple moving average is $6.91 and its 200 day simple moving average is $6.09. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.01 and a quick ratio of 0.82.

Gogoro (NASDAQ:GGR - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($1.80) earnings per share (EPS) for the quarter. The company had revenue of $65.81 million for the quarter. Gogoro had a negative return on equity of 69.46% and a negative net margin of 46.72%. Research analysts expect that Gogoro Inc. will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Gogoro

A hedge fund recently raised its stake in Gogoro stock. Jane Street Group LLC raised its position in Gogoro Inc. (NASDAQ:GGR - Free Report) by 136.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,121 shares of the company's stock after buying an additional 121,905 shares during the quarter. Jane Street Group LLC owned 0.07% of Gogoro worth $105,000 at the end of the most recent reporting period. 15.87% of the stock is currently 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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