Gorilla Technology Group (NASDAQ:GRRR) Trading Up 3.5% – Here’s Why

Shares of Gorilla Technology Group Inc. (NASDAQ:GRRR) rose 3.5% during mid-day trading on Monday . The stock traded as high as $13.38 and last traded at $13.03. Approximately 844,543 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 755,544 shares. The stock had previously closed at $12.59.

Analyst Upgrades and Downgrades

GRRR has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Gorilla Technology Group in a report on Wednesday, November 19th. Zacks Research lowered Gorilla Technology Group from a “hold” rating to a “strong sell” rating in a report on Friday, November 21st. Finally, Cantor Fitzgerald began coverage on Gorilla Technology Group in a research note on Thursday, December 11th. They issued an “overweight” rating and a $31.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Gorilla Technology Group presently has an average rating of “Hold” and an average target price of $24.50.

Gorilla Technology Group Trading Up 3.5%

The company has a quick ratio of 3.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $13.39 and a 200-day moving average price of $16.76. The company has a market capitalization of $262.42 million, a price-to-earnings ratio of 48.26 and a beta of -0.25.

Gorilla Technology Group (NASDAQ:GRRR) last posted its quarterly earnings data on Monday, November 17th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.02). The company had revenue of $26.48 million during the quarter, compared to analyst estimates of $26.50 million. Research analysts predict that Gorilla Technology Group Inc. will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Gorilla Technology Group

Several hedge funds have recently modified their holdings of GRRR. Jump Financial LLC bought a new position in Gorilla Technology Group during the second quarter worth $3,672,000. UBS Group AG increased its holdings in shares of Gorilla Technology Group by 576.8% during the 3rd quarter. UBS Group AG now owns 205,867 shares of the company’s stock worth $3,800,000 after purchasing an additional 175,448 shares during the period. Capital Fund Management S.A. acquired a new position in shares of Gorilla Technology Group during the third quarter valued at about $1,500,000. Legal & General Group Plc acquired a new position in shares of Gorilla Technology Group during the second quarter valued at about $1,412,000. Finally, SBI Securities Co. Ltd. lifted its stake in shares of Gorilla Technology Group by 31.3% in the second quarter. SBI Securities Co. Ltd. now owns 155,995 shares of the company’s stock valued at $3,103,000 after buying an additional 37,230 shares during the period. 1.33% of the stock is owned by institutional investors.

Gorilla Technology Group Company Profile

Gorilla Technology Group is a Taiwan‐based provider of video computing and artificial intelligence solutions, offering software and hardware platforms for real‐time video analytics, facial recognition and edge‐computing applications. The company’s core business centers on the development of AI‐driven surveillance technologies that can be deployed in cloud, on-premise or hybrid environments. Gorilla Technology Group’s platforms are designed to process high-volume video data streams for security monitoring, operational optimization and business intelligence.

The company’s flagship offerings include video management systems integrated with smart analytics modules, IoT gateways for edge-level data processing and AI engines for tasks such as people counting, license plate recognition and behavioral analysis.