Gorilla Technology Group (NASDAQ:GRRR) Stock Price Up 13.1% – What’s Next?

Gorilla Technology Group Inc. (NASDAQ:GRRR) rose 13.1% during trading on Wednesday . The stock traded as high as $29.20 and last traded at $29.96. Approximately 1,678,200 shares were traded during trading, a decline of 48% from the average daily volume of 3,196,952 shares. The stock had previously closed at $26.49.

Wall Street Analyst Weigh In

Separately, Northland Securities boosted their target price on shares of 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 Price Performance

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GRRR. Anson Funds Management LP raised its stake in 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 purchasing an additional 582,661 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Gorilla Technology Group during the 4th quarter worth about $1,389,000. Toronto Dominion Bank purchased a new stake in shares of Gorilla Technology Group during the 4th quarter worth about $903,000. BNP Paribas Financial Markets purchased a new stake in shares of Gorilla Technology Group during the 4th quarter worth about $737,000. Finally, XTX Topco Ltd purchased a new position in Gorilla Technology Group in the 4th quarter worth approximately $426,000. 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.