Gogoro (NASDAQ:GGR) Stock Rating Lowered by Benchmark

Gogoro (NASDAQ:GGR) was downgraded by Benchmark from a “buy” rating to a “hold” rating in a research note issued on Monday, MarketBeat.com reports.

Gogoro Trading Up 0.8 %

NASDAQ:GGR opened at $1.34 on Monday. The firm has a 50 day moving average of $1.45 and a 200 day moving average of $1.56. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 1.43. Gogoro has a 52 week low of $1.16 and a 52 week high of $3.12. The stock has a market capitalization of $329.37 million, a price-to-earnings ratio of -6.38 and a beta of 0.45.

Institutional Investors Weigh In On Gogoro

Several institutional investors have recently added to or reduced their stakes in GGR. Senator Investment Group LP purchased a new position in shares of Gogoro in the second quarter worth $2,079,000. Renaissance Technologies LLC increased 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 valued at $143,000 after acquiring an additional 40,400 shares during the period. Finally, Jump Financial LLC purchased a new position in Gogoro in the 4th quarter worth $54,000. Institutional investors and hedge funds own 15.87% of the company’s stock.

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.