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

Gorilla Technology Group Inc. (NASDAQ:GRRR) gapped up prior to trading on Tuesday . The stock had previously closed at $26.57, but opened at $29.42. Gorilla Technology Group shares last traded at $28.91, with a volume of 1,405,693 shares trading hands.

Wall Street Analysts Forecast Growth

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

Gorilla Technology Group Stock Down 0.9 %

The company’s 50 day moving average price is $16.71 and its 200 day moving average price is $8.48. 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 Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GRRR. Vontobel Holding Ltd. acquired a new stake in Gorilla Technology Group in the third quarter valued at approximately $81,000. GSA Capital Partners LLP acquired a new stake in Gorilla Technology Group in the third quarter valued at approximately $55,000. Transcendent Capital Group LLC acquired a new stake in Gorilla Technology Group in the fourth quarter valued at approximately $72,000. SBI Securities Co. Ltd. acquired a new stake in Gorilla Technology Group in the fourth quarter valued at approximately $1,389,000. Finally, Commonwealth Equity Services LLC raised its holdings in Gorilla Technology Group by 41.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 39,991 shares of the company’s stock valued at $722,000 after acquiring an additional 11,663 shares in the last quarter. Hedge funds and other institutional investors own 1.33% of the company’s stock.

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.