Gorilla Technology Group (NASDAQ:GRRR) Shares Gap Down – Here’s Why

Shares of Gorilla Technology Group Inc. (NASDAQ:GRRR) gapped down prior to trading on Tuesday . The stock had previously closed at $24.20, but opened at $23.57. Gorilla Technology Group shares last traded at $27.54, with a volume of 2,312,261 shares traded.

Wall Street Analyst Weigh In

Separately, Northland Securities boosted 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 Stock Up 11.5 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.72 and a current ratio of 1.72. The business has a 50 day moving average price of $20.94 and a 200-day moving average price of $11.00.

Institutional Investors Weigh In On Gorilla Technology Group

A number of hedge funds and other institutional investors have recently bought and sold shares of GRRR. Anson Funds Management LP increased its holdings in shares of Gorilla Technology Group by 3,360.4% in the 4th quarter. Anson Funds Management LP now owns 600,000 shares of the company’s stock valued at $10,836,000 after purchasing an additional 582,661 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Gorilla Technology Group during the fourth quarter worth about $1,389,000. Toronto Dominion Bank purchased a new position in Gorilla Technology Group in the fourth quarter valued at about $903,000. BNP Paribas Financial Markets acquired a new stake in shares of Gorilla Technology Group during the 4th quarter valued at approximately $737,000. Finally, XTX Topco Ltd acquired a new stake in shares of Gorilla Technology Group in the 4th quarter worth approximately $426,000. Institutional investors and hedge funds own 1.33% of the company’s stock.

Gorilla Technology Group Company Profile

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.