Gorilla Technology Group (NASDAQ:GRRR) Stock Price Down 12.9% – Time to Sell?

Gorilla Technology Group Inc. (NASDAQ:GRRR) dropped 12.9% during trading on Thursday . The stock traded as low as $38.68 and last traded at $36.49. Approximately 1,508,089 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 3,807,745 shares. The stock had previously closed at $41.91.

Analyst Ratings Changes

Separately, Northland Securities upped their price objective 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 Stock Performance

The company has a fifty day moving average of $20.71 and a 200-day moving average of $10.55. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.08.

Hedge Funds Weigh In On Gorilla Technology Group

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

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.