Gorilla Technology Group (NASDAQ:GRRR) Trading 0.9% Higher – What’s Next?

Shares of Gorilla Technology Group Inc. (NASDAQ:GRRR) rose 0.9% during mid-day trading on Monday . The stock traded as high as $12.82 and last traded at $12.15. Approximately 1,218,827 shares were traded during mid-day trading, a decline of 28% from the average session volume of 1,692,882 shares. The stock had previously closed at $12.04.

Analyst Upgrades and Downgrades

GRRR has been the topic of several recent research reports. Zacks Research raised Gorilla Technology Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Gorilla Technology Group in a research note on Friday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of Gorilla Technology Group in a research note on Thursday, June 4th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Gorilla Technology Group has a consensus rating of “Hold” and an average target price of $40.00.

Gorilla Technology Group Stock Down 0.4%

The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $16.52 and a 200 day simple moving average of $13.85. The company has a market cap of $332.08 million, a P/E ratio of 140.89 and a beta of 0.30.

Gorilla Technology Group (NASDAQ:GRRR) last issued its earnings results on Wednesday, May 27th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.29). The firm had revenue of $28.23 million for the quarter, compared to analysts’ expectations of $26.01 million. On average, equities analysts anticipate that Gorilla Technology Group Inc. will post 1.61 EPS for the current year.

Institutional Trading of Gorilla Technology Group

A number of large investors have recently modified their holdings of GRRR. Bank of America Corp DE boosted its position in Gorilla Technology Group by 60.0% during the second quarter. Bank of America Corp DE now owns 1,920 shares of the company’s stock valued at $38,000 after purchasing an additional 720 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Gorilla Technology Group by 1.4% in the 3rd quarter. Legal & General Group Plc now owns 72,077 shares of the company’s stock valued at $1,331,000 after buying an additional 1,013 shares in the last quarter. NewEdge Advisors LLC acquired a new position in Gorilla Technology Group during the 1st quarter valued at about $61,000. Cetera Investment Advisers raised its stake in Gorilla Technology Group by 8.1% in the first quarter. Cetera Investment Advisers now owns 31,303 shares of the company’s stock valued at $330,000 after buying an additional 2,358 shares during the last quarter. Finally, Raymond James Financial Inc. raised its position in shares of Gorilla Technology Group by 21.8% in the 2nd quarter. Raymond James Financial Inc. now owns 17,698 shares of the company’s stock valued at $352,000 after purchasing an additional 3,168 shares during the last quarter. Hedge funds and other institutional investors own 1.33% of the company’s stock.

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.