Gorilla Technology Group (NASDAQ:GRRR) Stock Price Up 7.9% – Here’s Why

Gorilla Technology Group Inc. (NASDAQ:GRRR) shot up 7.9% during mid-day trading on Monday . The company traded as high as $28.29 and last traded at $27.03. 1,353,084 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 1,583,396 shares. The stock had previously closed at $25.04.

Analyst Upgrades and Downgrades

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

Gorilla Technology Group Stock Down 15.1 %

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 company’s 50-day simple moving average is $24.08 and its 200 day simple moving average is $13.54.

Institutional Investors Weigh In On Gorilla Technology Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRRR. Transcendent Capital Group LLC acquired a new position in shares of Gorilla Technology Group during the fourth quarter valued at about $72,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Gorilla Technology Group in the fourth quarter worth $135,000. Commonwealth Equity Services LLC lifted its stake in shares of Gorilla Technology Group by 41.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 39,991 shares of the company’s stock worth $722,000 after buying an additional 11,663 shares during the period. Cetera Investment Advisers purchased a new stake in shares of Gorilla Technology Group during the fourth quarter valued at $258,000. Finally, Stifel Financial Corp acquired a new position in shares of Gorilla Technology Group in the 4th quarter valued at $412,000. 1.33% of the stock is currently owned by hedge funds and other institutional investors.

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.