Short Interest in Gorilla Technology Group Inc. (NASDAQ:GRRR) Rises By 138.4%

Posted by Caroline Horne on Sep 28th, 2024

Gorilla Technology Group Inc. (NASDAQ:GRRR – Get Free Report) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 1,180,000 shares, an increase of 138.4% from the August 31st total of 495,000 shares. Approximately 12.5% of the shares of the stock are short sold. Based on an average daily volume of 434,300 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

Separately, Northland Securities boosted their price objective on Gorilla Technology Group from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Wednesday.

Check Out Our Latest Analysis on GRRR

Institutional Investors Weigh In On Gorilla Technology Group

A hedge fund recently bought a new stake in Gorilla Technology Group stock. Highbridge Capital Management LLC purchased a new position in shares of Gorilla Technology Group Inc. (NASDAQ:GRRR – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 173,289 shares of the company’s stock, valued at approximately $480,000. Highbridge Capital Management LLC owned approximately 1.93% of Gorilla Technology Group at the end of the most recent reporting period. 1.33% of the stock is currently owned by institutional investors.

Gorilla Technology Group Stock Performance

Shares of GRRR opened at $4.15 on Friday. The business’s 50-day moving average is $3.02 and its 200-day moving average is $4.47. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.13. Gorilla Technology Group has a fifty-two week low of $2.09 and a fifty-two week high of $13.00.

About Gorilla Technology Group

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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.