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

Gorilla Technology Group Inc. (NASDAQ:GRRR)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $32.23, but opened at $30.16. Gorilla Technology Group shares last traded at $30.78, with a volume of 1,254,096 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Northland Securities boosted their price target 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 Performance

The business has a 50 day simple moving average of $19.29 and a two-hundred day simple moving average of $9.92. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.08.

Institutional Investors Weigh In On Gorilla Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of GRRR. GSA Capital Partners LLP purchased a new stake in shares of Gorilla Technology Group during the 3rd quarter valued at $55,000. Transcendent Capital Group LLC purchased a new stake in Gorilla Technology Group during the fourth quarter valued at about $72,000. Creative Financial Designs Inc. ADV purchased a new stake in Gorilla Technology Group during the fourth quarter valued at about $135,000. Cetera Investment Advisers bought a new stake in Gorilla Technology Group during the fourth quarter worth about $258,000. Finally, Stifel Financial Corp purchased a new position in shares of Gorilla Technology Group in the 4th quarter worth about $412,000. 1.33% of the stock is 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.