Gorilla Technology Group (NASDAQ:GRRR) Stock Price Up 11.9% – What’s Next?

Gorilla Technology Group Inc. (NASDAQ:GRRR)’s share price shot up 11.9% during mid-day trading on Friday . The stock traded as high as $28.70 and last traded at $28.99. 1,586,423 shares were traded during mid-day trading, a decline of 61% from the average session volume of 4,020,121 shares. The stock had previously closed at $25.91.

Analysts Set New Price Targets

Separately, Northland Securities upped their target price on 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 quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.08. The company’s fifty day moving average price is $21.35 and its 200 day moving average price is $11.39.

Hedge Funds Weigh In On Gorilla Technology Group

A number of hedge funds and other institutional investors have recently made changes to their positions in GRRR. Anson Funds Management LP increased its stake in shares of Gorilla Technology Group by 3,360.4% during the 4th quarter. Anson Funds Management LP now owns 600,000 shares of the company’s stock worth $10,836,000 after purchasing an additional 582,661 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Gorilla Technology Group during the 4th quarter worth approximately $1,389,000. Toronto Dominion Bank purchased a new stake in shares of Gorilla Technology Group during the 4th quarter worth approximately $903,000. BNP Paribas Financial Markets purchased a new stake in shares of Gorilla Technology Group during the 4th quarter worth approximately $737,000. Finally, Commonwealth Equity Services LLC increased its stake in shares of Gorilla Technology Group by 41.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 39,991 shares of the company’s stock worth $722,000 after purchasing an additional 11,663 shares during the last quarter. 1.33% of the stock is owned by hedge funds and other institutional investors.

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.