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

Gorilla Technology Group Inc. (NASDAQ:GRRR)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $26.99, but opened at $30.00. Gorilla Technology Group shares last traded at $28.44, with a volume of 1,201,683 shares.

Analyst Upgrades and Downgrades

Separately, Northland Securities raised 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 Stock Performance

The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average is $21.12 and its two-hundred day moving average is $11.17.

Hedge Funds Weigh In On Gorilla Technology Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new stake in shares of Gorilla Technology Group during the fourth quarter valued at approximately $1,389,000. Transcendent Capital Group LLC bought a new stake in Gorilla Technology Group in the fourth quarter worth about $72,000. GSA Capital Partners LLP purchased a new position in Gorilla Technology Group in the third quarter valued at about $55,000. Cetera Investment Advisers purchased a new position in Gorilla Technology Group in the fourth quarter valued at about $258,000. Finally, Toronto Dominion Bank purchased a new stake in shares of Gorilla Technology Group during the 4th quarter worth approximately $903,000. Hedge funds and other 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.