Gorilla Technology Group (NASDAQ:GRRR) Shares Up 11.1% – Here’s What Happened

Shares of Gorilla Technology Group Inc. (NASDAQ:GRRR) were up 11.1% during mid-day trading on Monday . The stock traded as high as $19.80 and last traded at $19.4220. Approximately 1,411,374 shares were traded during mid-day trading, an increase of 39% from the average session volume of 1,012,049 shares. The stock had previously closed at $17.48.

Analysts Set New Price Targets

Several equities analysts have weighed in on GRRR shares. Zacks Research raised Gorilla Technology Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 price target on shares of Gorilla Technology Group in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.00.

Gorilla Technology Group Stock Up 8.4%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.91 and a current ratio of 2.91. The stock’s 50 day moving average price is $15.66 and its 200-day moving average price is $13.36. The company has a market cap of $496.14 million, a PE ratio of 210.44 and a beta of 0.28.

Gorilla Technology Group (NASDAQ:GRRR) last issued its earnings results on Wednesday, May 27th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.29). The company had revenue of $28.23 million for the quarter, compared to the consensus estimate of $26.01 million. On average, analysts predict that Gorilla Technology Group Inc. will post 1.61 earnings per share for the current year.

Insider Activity at Gorilla Technology Group

In other Gorilla Technology Group news, Director Evan S. Medeiros sold 12,604 shares of Gorilla Technology Group stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $12.16, for a total value of $153,264.64. Following the transaction, the director directly owned 20,936 shares of the company’s stock, valued at $254,581.76. The trade was a 37.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Trading of Gorilla Technology Group

A number of institutional investors have recently made changes to their positions in GRRR. Bank of America Corp DE grew its holdings in shares of Gorilla Technology Group by 60.0% in the second quarter. Bank of America Corp DE now owns 1,920 shares of the company’s stock worth $38,000 after purchasing an additional 720 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in Gorilla Technology Group during the 3rd quarter valued at $50,000. NewEdge Advisors LLC bought a new stake in Gorilla Technology Group during the 1st quarter valued at $61,000. Sunbelt Securities Inc. purchased a new stake in Gorilla Technology Group during the 3rd quarter valued at $90,000. Finally, Vident Advisory LLC purchased a new stake in Gorilla Technology Group during the 4th quarter valued at $110,000. Hedge funds and other institutional investors own 1.33% of the company’s stock.

Gorilla Technology Group Company Profile

Gorilla Technology Group is a Taiwan?based provider of video computing and artificial intelligence solutions, offering software and hardware platforms for real?time video analytics, facial recognition and edge?computing applications. The company’s core business centers on the development of AI?driven surveillance technologies that can be deployed in cloud, on-premise or hybrid environments. Gorilla Technology Group’s platforms are designed to process high-volume video data streams for security monitoring, operational optimization and business intelligence.

The company’s flagship offerings include video management systems integrated with smart analytics modules, IoT gateways for edge-level data processing and AI engines for tasks such as people counting, license plate recognition and behavioral analysis.