Gorilla Technology Group (NASDAQ:GRRR) Hits New 52-Week High – Here’s Why

Gorilla Technology Group Inc. (NASDAQ:GRRR)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $32.74 and last traded at $30.34, with a volume of 5724200 shares traded. The stock had previously closed at $26.49.

Analysts Set New Price Targets

Separately, Northland Securities lifted their price target on shares of Gorilla Technology Group from $13.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd.

Gorilla Technology Group Trading Up 14.5 %

The firm has a 50-day moving average price of $16.71 and a two-hundred day moving average price of $8.48. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.72 and a current ratio of 1.72.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GRRR. Vontobel Holding Ltd. acquired a new position in Gorilla Technology Group in the third quarter valued at $81,000. GSA Capital Partners LLP purchased a new stake in shares of Gorilla Technology Group in the 3rd quarter valued at about $55,000. Cetera Investment Advisers acquired a new stake in shares of Gorilla Technology Group in the 4th quarter valued at about $258,000. Toronto Dominion Bank purchased a new position in Gorilla Technology Group during the 4th quarter worth approximately $903,000. Finally, BNP Paribas Financial Markets acquired a new position in Gorilla Technology Group during the fourth quarter worth approximately $737,000. 1.33% of the stock is owned by hedge funds and other institutional investors.

About Gorilla Technology Group

Gorilla Technology Group Inc provides video intelligence, Internet of Things (IoT) security, and edge content management hardware, software, and services in the Asia Pacific region. The company operates through three segments: Video IoT, Security Convergence, and Other segments. It offers intelligent video analytics AI models for various verticals, such as behavioral analytics, people/face recognition, vehicle analysis, object recognition, and business intelligence that can scan video for patterns and distinguish specific items using AI algorithms and metadata.