Citigroup Reiterates Neutral Rating for Gogoro (NASDAQ:GGR)

by · The Markets Daily

Gogoro (NASDAQ:GGR – Get Free Report)‘s stock had its “neutral” rating restated by analysts at Citigroup in a research report issued to clients and investors on Friday, Marketbeat.com reports. They currently have a $0.50 price target on the stock, down from their previous price target of $2.30. Citigroup’s price target indicates a potential upside of 4.60% from the stock’s current price.

Separately, Benchmark downgraded Gogoro from a “buy” rating to a “hold” rating in a research report on Monday, August 19th.

View Our Latest Analysis on Gogoro

Gogoro Price Performance

NASDAQ GGR opened at $0.48 on Friday. The company has a 50-day simple moving average of $0.60 and a two-hundred day simple moving average of $1.14. Gogoro has a 12-month low of $0.40 and a 12-month high of $2.78. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.19 and a current ratio of 1.46.

Gogoro (NASDAQ:GGR – Get Free Report) last issued its earnings results on Thursday, August 15th. The company reported ($0.08) earnings per share for the quarter. Gogoro had a negative net margin of 24.00% and a negative return on equity of 31.86%. The company had revenue of $80.94 million for the quarter.

Hedge Funds Weigh In On Gogoro

Several hedge funds and other institutional investors have recently modified their holdings of GGR. Senator Investment Group LP bought a new stake in shares of Gogoro in the second quarter worth about $2,079,000. State Street Corp lifted its holdings in Gogoro by 105.3% in the 3rd quarter. State Street Corp now owns 134,806 shares of the company’s stock worth $71,000 after buying an additional 69,142 shares during the period. Renaissance Technologies LLC grew its position in shares of Gogoro by 76.7% in the 2nd quarter. Renaissance Technologies LLC now owns 93,100 shares of the company’s stock worth $143,000 after buying an additional 40,400 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Gogoro by 113.0% during the third quarter. Jane Street Group LLC now owns 89,216 shares of the company’s stock valued at $47,000 after buying an additional 47,336 shares during the period. 15.87% of the stock is owned by institutional investors.

About Gogoro

(Get Free Report)

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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