Gorilla Technology Group (NASDAQ:GRRR) Stock Price Up 11.9% – Here’s What Happened

Gorilla Technology Group Inc. (NASDAQ:GRRR) shares shot up 11.9% during trading on Friday . The stock traded as high as $28.70 and last traded at $28.99. 1,586,423 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 4,020,121 shares. The stock had previously closed at $25.91.

Analyst Ratings Changes

Separately, Northland Securities raised their price target on shares of 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 Up 25.0 %

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 fifty day moving average price is $21.35 and its 200-day moving average price is $11.39.

Institutional Trading of Gorilla Technology Group

Hedge funds have recently made changes to their positions in the stock. Transcendent Capital Group LLC bought a new stake in shares of Gorilla Technology Group during the 4th quarter worth $72,000. Creative Financial Designs Inc. ADV purchased a new position in Gorilla Technology Group in the 4th quarter worth $135,000. GSA Capital Partners LLP purchased a new position in Gorilla Technology Group in the 3rd quarter worth $55,000. Cetera Investment Advisers purchased a new position in Gorilla Technology Group in the 4th quarter worth $258,000. Finally, Stifel Financial Corp purchased a new stake in Gorilla Technology Group during the 4th quarter valued at about $412,000. 1.33% of the stock is owned by 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.