Gogoro (NASDAQ:GGR) Shares Down 7.2% – Should You Sell?

Shares of Gogoro Inc. (NASDAQ:GGR) were down 7.2% on Wednesday . The stock traded as low as $2.96 and last traded at $2.96. Approximately 12,854 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 20,462 shares. The stock had previously closed at $3.19.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Gogoro in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Gogoro Stock Performance

The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of 2.62. The stock has a fifty day moving average price of $3.57 and a 200-day moving average price of $5.33. The firm has a market cap of $43.72 million, a price-to-earnings ratio of -0.33 and a beta of 0.92.

Gogoro (NASDAQ:GGR) last announced its quarterly earnings data on Tuesday, November 11th. The company reported ($1.01) earnings per share (EPS) for the quarter. The firm had revenue of $77.65 million during the quarter. Gogoro had a negative net margin of 47.07% and a negative return on equity of 80.94%. On average, analysts expect that Gogoro Inc. will post -0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gogoro

Large investors have recently modified their holdings of the business. Citadel Advisors LLC boosted its stake in shares of Gogoro by 9.5% in the third quarter. Citadel Advisors LLC now owns 181,126 shares of the company’s stock valued at $54,000 after buying an additional 15,749 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Gogoro by 81.1% in the first quarter. Jane Street Group LLC now owns 382,394 shares of the company’s stock valued at $103,000 after purchasing an additional 171,273 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in Gogoro by 185.8% during the third quarter. GSA Capital Partners LLP now owns 774,659 shares of the company’s stock worth $233,000 after buying an additional 503,624 shares in the last quarter. 15.87% of the stock is owned by hedge funds and other institutional investors.

Gogoro Company Profile

Gogoro Inc is a Taiwan-based technology company specializing in electric two-wheeler vehicles and battery-swapping infrastructure. Founded in 2011 by Horace Luke and Matt Taylor, the company pioneered the concept of a large-scale, on-demand battery-as-a-service (BaaS) network. Its flagship offering, the Gogoro Smartscooter, integrates a lightweight, high-performance electric drivetrain with a modular battery pack designed to be exchanged at convenient swap stations.

The core of Gogoro’s business is the Gogoro Energy Network, a proprietary system of battery-swapping stations that allows riders to quickly exchange depleted batteries for fully charged ones.