Gorilla Technology Group (NASDAQ:GRRR) Trading Down 5.1% – Here’s What Happened

Gorilla Technology Group Inc. (NASDAQ:GRRR) traded down 5.1% on Monday . The stock traded as low as $31.85 and last traded at $31.86. 1,350,822 shares were traded during mid-day trading, a decline of 67% from the average session volume of 4,098,921 shares. The stock had previously closed at $33.59.

Wall Street Analyst Weigh In

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 report on Wednesday, January 22nd.

Gorilla Technology Group Trading Down 18.3 %

The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.08. The firm’s 50 day simple moving average is $21.55 and its 200 day simple moving average is $11.73.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GRRR. Anson Funds Management LP raised its stake in shares of Gorilla Technology Group by 3,360.4% during the fourth 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 in the last quarter. SBI Securities Co. Ltd. bought a new stake in Gorilla Technology Group during the fourth quarter worth approximately $1,389,000. Toronto Dominion Bank acquired a new stake in Gorilla Technology Group in the fourth quarter worth approximately $903,000. BNP Paribas Financial Markets bought a new position in Gorilla Technology Group during the 4th quarter valued at $737,000. Finally, XTX Topco Ltd bought a new position in Gorilla Technology Group during the 4th quarter valued at $426,000. Institutional investors and hedge funds own 1.33% of the company’s stock.

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.