Gorilla Technology Group (NASDAQ:GRRR) Trading 11.4% Higher – Time to Buy?

Gorilla Technology Group Inc. (NASDAQ:GRRR) traded up 11.4% on Friday . The company traded as high as $27.85 and last traded at $27.63. 1,386,036 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 3,314,075 shares. The stock had previously closed at $24.80.

Analysts Set New Price Targets

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

Gorilla Technology Group Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.72 and a quick ratio of 1.72. The stock’s fifty day simple moving average is $18.92 and its two-hundred day simple moving average is $9.61.

Institutional Trading of Gorilla Technology Group

A number of hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank purchased a new stake in Gorilla Technology Group during the fourth quarter valued at about $903,000. Cetera Investment Advisers purchased a new stake in Gorilla Technology Group during the fourth quarter valued at about $258,000. Centiva Capital LP purchased a new stake in Gorilla Technology Group during the fourth quarter valued at about $424,000. BNP Paribas Financial Markets purchased a new stake in Gorilla Technology Group during the fourth quarter valued at about $737,000. Finally, Anson Funds Management LP lifted its stake in Gorilla Technology Group by 3,360.4% during the fourth quarter. Anson Funds Management LP now owns 600,000 shares of the company’s stock valued at $10,836,000 after buying an additional 582,661 shares in the last quarter. 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.