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

Gorilla Technology Group Inc. (NASDAQ:GRRR)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $26.57, but opened at $29.42. Gorilla Technology Group shares last traded at $28.91, with a volume of 1,405,693 shares.

Analyst Upgrades and Downgrades

Separately, Northland Securities raised their price objective on shares of Gorilla Technology Group from $13.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd.

Gorilla Technology Group Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.72 and a quick ratio of 1.72. The company has a 50-day simple moving average of $15.89 and a 200-day simple moving average of $8.16.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GRRR. Vontobel Holding Ltd. acquired a new stake in Gorilla Technology Group in the 3rd quarter valued at about $81,000. GSA Capital Partners LLP bought a new stake in shares of Gorilla Technology Group during the third quarter valued at approximately $55,000. Cetera Investment Advisers acquired a new stake in shares of Gorilla Technology Group in the fourth quarter valued at approximately $258,000. Toronto Dominion Bank bought a new position in Gorilla Technology Group in the 4th quarter worth approximately $903,000. Finally, BNP Paribas Financial Markets acquired a new position in Gorilla Technology Group during the 4th quarter worth $737,000. 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.