A significant driver of top-line growth: Gogoro Inc. (GGR)

Gogoro Inc. (NASDAQ: GGR) stock jumped 9.89% on Monday to $5.00 against a previous-day closing price of $4.55. With 0.15 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.27 million shares. During the session, the Auto Parts company that operates in wider Consumer Cyclical sector, reached to the highest price of $5.0000 whereas the lowest price it dropped to was $4.5800. The 52-week range on GGR shows that it touched its highest point at $17.59 and its lowest point at $2.83 during that stretch. It currently has a 1-year price target of $5.77.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GGR was up-trending over the past week, with a rise of 19.90%, but this was up by 47.93% over a month. Three-month performance surged to 65.56% while six-month performance fell -16.11%. The stock lost -49.55% in the past year, while it has gained 57.23% so far this year.

Float and Shares Shorts:

At present, 231.99 million GGR shares are outstanding with a float of 137.10 million shares on hand for trading. On Dec 29, 2022, short shares totaled 2.96 million, which was 1.24% higher than short shares on Nov 29, 2022. In addition to Mr. Hok-Sum Luke as the firm’s Founder, CEO & Chairman, Mr. Bruce Aitken serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 11.68% of GGR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 4.58% of GGR, in contrast to 2.31% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in GGR with 3.28% of the stake, Temasek Holdings Pte Ltd. holds 8,002,475 shares worth 8,002,475. A second-largest stockholder of GGR, Invesco Capital Management LLC, holds 2,816,113 shares, controlling over 1.15% of the firm’s shares. First Trust Advisors LP is the third largest shareholder in GGR, holding 1,580,706 shares or 0.65% stake. With a 1.32% stake in GGR, the Invesco WilderHill Clean Energy E is the largest stakeholder. A total of 3,226,766 shares are owned by the mutual fund manager. The First Trust NASDAQ Clean Edge Gre, which owns about 0.62% of GGR stock, is the second-largest Mutual Fund holder. It holds 1,505,079 shares valued at 4.79 million. Lumyna – MW TOPS UCITS Fund holds 0.11% of the stake in GGR, owning 262,308 shares worth 0.83 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Sep 29, 2022, GGR reported revenue of $90.72M and operating income of -$222.71M. The EBITDA in the recently reported quarter was -$94.95M and diluted EPS was -$0.53.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GGR since 3 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With GGR analysts setting a high price target of $7.00 and a low target of $4.30, the average target price over the next 12 months is $5.77. Based on these targets, GGR could surge 40.0% to reach the target high and fall by -14.0% to reach the target low. Reaching the average price target will result in a growth of 15.4% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. GGR will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$0.44 being high and -$0.76 being low. For GGR, this leads to a yearly average estimate of -$0.55.

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