Gogoro (NASDAQ:GGR) Trading Down 3.2% - Here's What Happened

Key Points

• Gogoro Inc.'s share price has decreased by 3.2%, trading at $0.34 with an increase in trading volume to 309,004 shares.
• The company reported a quarterly earnings loss of ($0.09) per share, with a negative net margin of 46.72% and revenue of $65.81 million.
• Institutional investors have recently increased their stakes in Gogoro, with notable purchases from firms like Jane Street Group LLC and Two Sigma Investments LP.

Gogoro Inc. (NASDAQ:GGR - Get Free Report)'s share price traded down 3.2% on Thursday . The company traded as low as $0.33 and last traded at $0.34. 309,004 shares were traded during mid-day trading, an increase of 64% from the average session volume of 187,863 shares. The stock had previously closed at $0.35.

Gogoro Trading Down 3.2%

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 business's fifty day simple moving average is $0.36 and its two-hundred day simple moving average is $0.31. The stock has a market capitalization of $99.50 million, a P/E ratio of -0.73 and a beta of 0.97.

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

Hedge Funds Weigh In On Gogoro

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC bought a new position in shares of Gogoro during the 4th quarter worth about $37,000. Alpine Global Management LLC bought a new position in shares of Gogoro during the 4th quarter worth about $40,000. Jane Street Group LLC lifted its holdings in shares of Gogoro by 136.6% during the 4th quarter. Jane Street Group LLC now owns 211,121 shares of the company's stock worth $105,000 after acquiring an additional 121,905 shares during the period. Finally, Two Sigma Investments LP bought a new position in shares of Gogoro during the 4th quarter worth about $121,000. 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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