Gorilla Technology Group (NASDAQ:GRRR) Hits New 52-Week High – Here’s What Happened

Gorilla Technology Group Inc. (NASDAQ:GRRR)’s share price reached a new 52-week high on Thursday . The stock traded as high as $27.33 and last traded at $27.75, with a volume of 1330999 shares changing hands. The stock had previously closed at $24.20.

Analyst Upgrades and Downgrades

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

Gorilla Technology Group Stock Performance

The company has a 50 day simple moving average of $15.51 and a 200-day simple moving average of $7.92. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.08.

Institutional Investors Weigh In On Gorilla Technology Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vontobel Holding Ltd. acquired a new position in Gorilla Technology Group during the 3rd quarter worth approximately $81,000. GSA Capital Partners LLP acquired a new position in Gorilla Technology Group during the third quarter worth $55,000. Transcendent Capital Group LLC acquired a new position in Gorilla Technology Group during the fourth quarter worth $72,000. SBI Securities Co. Ltd. bought a new position in Gorilla Technology Group in the fourth quarter valued at $1,389,000. Finally, Commonwealth Equity Services LLC increased its stake in Gorilla Technology Group by 41.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 39,991 shares of the company’s stock valued at $722,000 after buying an additional 11,663 shares during the last quarter. Institutional investors and hedge funds 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.