Gorilla Technology Group Inc. (NASDAQ:GRRR) Short Interest Down 15.8% in February

Gorilla Technology Group Inc. (NASDAQ:GRRR) saw a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 1,230,000 shares, a drop of 15.8% from the February 13th total of 1,460,000 shares. Approximately 7.3% of the shares of the company are sold short. Based on an average daily trading volume, of 3,970,000 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analysts Forecast Growth

Separately, Northland Securities upped their target price 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

Gorilla Technology Group stock traded down $1.69 during trading on Thursday, reaching $25.28. The company had a trading volume of 875,262 shares, compared to its average volume of 1,516,473. The firm’s 50-day simple moving average is $21.94 and its 200 day simple moving average is $12.08. Gorilla Technology Group has a 52 week low of $2.09 and a 52 week high of $44.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.72 and a quick ratio of 1.72.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new stake in Gorilla Technology Group in the 3rd quarter worth approximately $55,000. Transcendent Capital Group LLC bought a new stake in shares of Gorilla Technology Group during the 4th quarter valued at $72,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Gorilla Technology Group during the 4th quarter valued at $135,000. Cetera Investment Advisers purchased a new position in shares of Gorilla Technology Group during the 4th quarter valued at $258,000. Finally, Stifel Financial Corp bought a new position in Gorilla Technology Group in the 4th quarter worth $412,000. Institutional investors own 1.33% of the company’s stock.

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.