Gorilla Technology Group (NASDAQ:GRRR) Releases Earnings Results

Gorilla Technology Group (NASDAQ:GRRR) issued its quarterly earnings results on Wednesday. The company reported ($0.18) earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $28.23 million during the quarter.

Gorilla Technology Group Stock Performance

Shares of GRRR stock opened at $15.42 on Wednesday. The firm has a market capitalization of $403.93 million, a price-to-earnings ratio of 57.62 and a beta of 0.16. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $12.53 and its 200-day moving average price is $12.71. Gorilla Technology Group has a 12 month low of $9.04 and a 12 month high of $27.90.

Insider Transactions at Gorilla Technology Group

In related news, Director Evan S. Medeiros sold 12,604 shares of Gorilla Technology Group stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $12.16, for a total transaction of $153,264.64. Following the sale, the director directly owned 20,936 shares in the company, valued at $254,581.76. This trade represents a 37.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 30.51% of the stock is currently owned by company insiders.

Institutional Trading of Gorilla Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of GRRR. NewEdge Advisors LLC bought a new stake in shares of Gorilla Technology Group during the 1st quarter valued at about $61,000. Goldman Sachs Group Inc. acquired a new position in Gorilla Technology Group during the first quarter worth $477,000. Geode Capital Management LLC bought a new position in shares of Gorilla Technology Group in the second quarter valued at $251,000. Cetera Investment Advisers grew its holdings in shares of Gorilla Technology Group by 28.4% during the second quarter. Cetera Investment Advisers now owns 20,622 shares of the company’s stock valued at $410,000 after buying an additional 4,557 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Gorilla Technology Group by 21.8% during the second quarter. Raymond James Financial Inc. now owns 17,698 shares of the company’s stock worth $352,000 after acquiring an additional 3,168 shares in the last quarter. 1.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Northland Securities set a $40.00 target price on Gorilla Technology Group in a research report on Thursday, January 29th. Zacks Research upgraded shares of Gorilla Technology Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Gorilla Technology Group presently has an average rating of “Hold” and a consensus price target of $35.50.

Gorilla Technology Group Company Profile

Gorilla Technology Group is a Taiwan?based provider of video computing and artificial intelligence solutions, offering software and hardware platforms for real?time video analytics, facial recognition and edge?computing applications. The company’s core business centers on the development of AI?driven surveillance technologies that can be deployed in cloud, on-premise or hybrid environments. Gorilla Technology Group’s platforms are designed to process high-volume video data streams for security monitoring, operational optimization and business intelligence.

The company’s flagship offerings include video management systems integrated with smart analytics modules, IoT gateways for edge-level data processing and AI engines for tasks such as people counting, license plate recognition and behavioral analysis.