Gogoro Inc [NASDAQ: GGR] gained 7.60% on the last trading session, reaching $1.84 price per share at the time. The company report on March 19, 2024 at 8:15 AM that Gogoro Named by Fast Company as Asia-Pacific’s #1 Most Innovative Company of 2024 and #37 Most Innovative Company Globally.
Gogoro Tops Annual List of Asia-Pacific Companies and Ranks #37 in Fast Company’s “World’s Most Innovative Companies of 2024” list; Company Joins Innovators such as NVIDIA, YouTube, Taco Bell and others.
Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today was recognized in Fast Company’s prestigious annual ranking, the “World’s Most Innovative Companies of 2024” as #37 on its “2024 World’s 50 Most Innovative Companies” list, and it received the #1 ranking for the Most Innovative Company in Asia-Pacific category. Gogoro is recognized for its game-changing two-wheel battery swapping ecosystem and urban energy solutions for smart cities.
If compared to the average trading volume of 254.18K shares, GGR reached a trading volume of 129357 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Gogoro Inc [GGR]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GGR shares is $4.15 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GGR stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for Gogoro Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 13, 2023. While these analysts kept the previous recommendation, JP Morgan raised their target price to Underweight. The new note on the price target was released on September 20, 2022, representing the official price target for Gogoro Inc stock. Previously, the target price had yet another raise to $8.60, while Citigroup analysts kept a Buy rating on GGR stock.
The Average True Range (ATR) for Gogoro Inc is set at 0.12, with the Price to Sales ratio for GGR stock in the period of the last 12 months amounting to 1.28. The Price to Book ratio for the last quarter was 1.72, with the Price to Cash per share for the same quarter was set at 0.71.
Trading performance analysis for GGR stock
Gogoro Inc [GGR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.22. With this latest performance, GGR shares gained by 15.72% in over the last four-week period, additionally sinking by -30.57% over the last 6 months – not to mention a drop of -51.83% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GGR stock in for the last two-week period is set at 58.37, with the RSI for the last a single of trading hit 64.20, and the three-weeks RSI is set at 53.39 for Gogoro Inc [GGR]. The present Moving Average for the last 50 days of trading for this stock 1.8232, while it was recorded at 1.8140 for the last single week of trading, and 2.5704 for the last 200 days.
Gogoro Inc [GGR]: A deeper dive into fundamental analysis
Gogoro Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.24.
An analysis of Institutional ownership at Gogoro Inc [GGR]
The top three institutional holders of GGR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GGR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GGR stock with ownership which is approximately 5.8325%.
