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

Gorilla Technology Group Inc. (NASDAQ:GRRR)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $24.20, but opened at $23.57. Gorilla Technology Group shares last traded at $27.54, with a volume of 2,312,261 shares changing hands.

Analysts Set New Price Targets

Separately, Northland Securities lifted their price objective 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 Stock Performance

The stock has a fifty day moving average of $20.94 and a two-hundred day moving average of $11.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.72 and a quick ratio of 1.72.

Institutional Trading of Gorilla Technology Group

A number of institutional investors have recently modified their holdings of GRRR. SBI Securities Co. Ltd. acquired a new position in Gorilla Technology Group during the fourth quarter valued at approximately $1,389,000. Transcendent Capital Group LLC purchased a new stake in Gorilla Technology Group during the 4th quarter worth $72,000. GSA Capital Partners LLP purchased a new stake in Gorilla Technology Group during the 3rd quarter worth $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 acquired a new position in shares of Gorilla Technology Group during the fourth quarter worth about $903,000. 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.