Gogoro Inc. (NASDAQ:GGR) Sees Large Decrease in Short Interest

Gogoro Inc. (NASDAQ:GGR) was the target of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 2,210,000 shares, a decline of 5.6% from the May 15th total of 2,340,000 shares. Based on an average daily volume of 215,400 shares, the days-to-cover ratio is presently 10.3 days. Approximately 1.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GGR. Pathstone Family Office LLC boosted its holdings in Gogoro by 77.1% during the third quarter. Pathstone Family Office LLC now owns 44,274 shares of the company’s stock worth $116,000 after buying an additional 19,274 shares in the last quarter. Green Alpha Advisors LLC grew its holdings in shares of Gogoro by 27.9% in the 4th quarter. Green Alpha Advisors LLC now owns 72,259 shares of the company’s stock worth $186,000 after acquiring an additional 15,763 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Gogoro in the 4th quarter worth $54,000. 15.87% of the stock is owned by institutional investors and hedge funds.

Gogoro Stock Performance

Shares of GGR stock opened at $1.42 on Tuesday. The business has a 50 day simple moving average of $1.53 and a 200 day simple moving average of $1.87. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a market capitalization of $349.04 million, a price-to-earnings ratio of -6.76 and a beta of 0.42. Gogoro has a 12-month low of $1.21 and a 12-month high of $3.55.

Gogoro (NASDAQ:GGR) last announced its earnings results on Thursday, May 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Gogoro had a negative net margin of 14.51% and a negative return on equity of 33.56%. The firm had revenue of $69.71 million during the quarter. During the same quarter in the prior year, the company earned ($0.09) EPS.

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.