Gorilla Technology Group (NASDAQ:GRRR) Stock Price Down 2.7% – Should You Sell?

Gorilla Technology Group Inc. (NASDAQ:GRRR) traded down 2.7% during trading on Thursday . The stock traded as low as $15.30 and last traded at $15.38. 922,493 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 1,579,448 shares. The stock had previously closed at $15.80.

Analyst Ratings Changes

Several research analysts have commented on the stock. Zacks Research lowered shares of Gorilla Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Gorilla Technology Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.00.

Gorilla Technology Group Price Performance

The company has a current ratio of 2.16, a quick ratio of 2.48 and a debt-to-equity ratio of 0.05. The company has a market cap of $309.75 million, a PE ratio of 512.67 and a beta of -0.26. The firm has a 50 day moving average of $18.04 and a two-hundred day moving average of $18.40.

Gorilla Technology Group (NASDAQ:GRRR) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.33). The company had revenue of $21.50 million during the quarter, compared to the consensus estimate of $21.50 million. Research analysts predict that Gorilla Technology Group Inc. will post 0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gorilla Technology Group

Several institutional investors and hedge funds have recently made changes to their positions in GRRR. Jump Financial LLC bought a new stake in shares of Gorilla Technology Group during the second quarter valued at approximately $3,672,000. Legal & General Group Plc bought a new stake in shares of Gorilla Technology Group in the 2nd quarter worth $1,412,000. SBI Securities Co. Ltd. increased its holdings in shares of Gorilla Technology Group by 54.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 118,765 shares of the company’s stock worth $3,515,000 after purchasing an additional 41,828 shares in the last quarter. Hood River Capital Management LLC bought a new stake in shares of Gorilla Technology Group in the 2nd quarter worth $738,000. Finally, Osaic Holdings Inc. increased its holdings in shares of Gorilla Technology Group by 104.9% in the 2nd quarter. Osaic Holdings Inc. now owns 58,198 shares of the company’s stock worth $1,158,000 after purchasing an additional 29,789 shares in the last quarter. 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.