Gorilla Technology Group (NASDAQ:GRRR) Trading Down 12.9% – Time to Sell?

Shares of Gorilla Technology Group Inc. (NASDAQ:GRRR) traded down 12.9% during trading on Thursday . The stock traded as low as $38.68 and last traded at $36.49. 1,508,089 shares were traded during trading, a decline of 60% from the average session volume of 3,807,745 shares. The stock had previously closed at $41.91.

Analyst Upgrades and Downgrades

Separately, Northland Securities increased their price target on 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 Trading Down 23.8 %

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 has a 50-day simple moving average of $20.34 and a 200-day simple moving average of $10.39.

Hedge Funds Weigh In On Gorilla Technology Group

Large investors have recently added to or reduced their stakes in the stock. Anson Funds Management LP increased its stake in Gorilla Technology Group by 3,360.4% during the 4th quarter. Anson Funds Management LP now owns 600,000 shares of the company’s stock worth $10,836,000 after buying an additional 582,661 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Gorilla Technology Group during the 4th quarter worth approximately $1,389,000. Toronto Dominion Bank purchased a new stake in Gorilla Technology Group during the 4th quarter worth approximately $903,000. BNP Paribas Financial Markets purchased a new stake in Gorilla Technology Group during the 4th quarter worth approximately $737,000. Finally, Commonwealth Equity Services LLC boosted its stake in Gorilla Technology Group by 41.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 39,991 shares of the company’s stock worth $722,000 after purchasing an additional 11,663 shares during the last quarter. 1.33% of the stock is currently owned by institutional investors and hedge funds.

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.