Gorilla Technology Group (NASDAQ:GRRR) Shares Up 0.9% – Here’s What Happened

Shares of Gorilla Technology Group Inc. (NASDAQ:GRRR) were up 0.9% on Monday . The stock traded as high as $12.82 and last traded at $12.15. 1,218,827 shares were traded during trading, a decline of 28% from the average session volume of 1,692,882 shares. The stock had previously closed at $12.04.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 target price on shares of Gorilla Technology Group in a report on Thursday, June 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Gorilla Technology Group in a research report on Friday. Finally, Zacks Research upgraded shares of Gorilla Technology Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $40.00.

Gorilla Technology Group Trading Up 0.9%

The firm has a market capitalization of $318.21 million, a P/E ratio of 135.00 and a beta of 0.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.91 and a current ratio of 2.91. The firm has a 50 day moving average price of $16.55 and a two-hundred day moving average price of $13.84.

Gorilla Technology Group (NASDAQ:GRRR) last issued its earnings results on Wednesday, May 27th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.29). The company had revenue of $28.23 million during the quarter, compared to analyst estimates of $26.01 million. On average, equities research analysts expect that Gorilla Technology Group Inc. will post 1.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Gorilla Technology Group

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in Gorilla Technology Group by 60.0% during the 2nd quarter. Bank of America Corp DE now owns 1,920 shares of the company’s stock worth $38,000 after buying an additional 720 shares during the period. NewEdge Advisors LLC acquired a new position in shares of Gorilla Technology Group in the first quarter worth about $61,000. Sunbelt Securities Inc. acquired a new position in shares of Gorilla Technology Group in the third quarter worth about $90,000. Vident Advisory LLC purchased a new position in shares of Gorilla Technology Group in the fourth quarter worth approximately $110,000. Finally, Geode Capital Management LLC purchased a new position in shares of Gorilla Technology Group in the second quarter worth approximately $251,000. Hedge funds and other institutional investors own 1.33% of the company’s stock.

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.