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

Shares of Gorilla Technology Group Inc. (NASDAQ:GRRR) gapped up before the market opened on Wednesday . The stock had previously closed at $26.93, but opened at $27.76. Gorilla Technology Group shares last traded at $27.59, with a volume of 341,324 shares traded.

Wall Street Analysts Forecast Growth

Separately, Northland Securities lifted 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 Stock Down 1.1 %

The stock has a 50-day simple moving average of $21.94 and a 200 day simple moving average of $12.08. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.72 and a current ratio of 1.72.

Institutional Trading of Gorilla Technology Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Anson Funds Management LP lifted its holdings in shares of Gorilla Technology Group by 3,360.4% in the 4th quarter. Anson Funds Management LP now owns 600,000 shares of the company’s stock valued at $10,836,000 after buying an additional 582,661 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Gorilla Technology Group in the 4th quarter valued at about $1,389,000. Toronto Dominion Bank acquired a new position in shares of Gorilla Technology Group in the 4th quarter valued at about $903,000. BNP Paribas Financial Markets acquired a new position in shares of Gorilla Technology Group in the 4th quarter valued at about $737,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Gorilla Technology Group by 41.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 39,991 shares of the company’s stock valued at $722,000 after buying an additional 11,663 shares during the period. Institutional investors and hedge funds 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.