Gorilla Technology Group (NASDAQ:GRRR) Shares Gap Up – Should You Buy?

Gorilla Technology Group Inc. (NASDAQ:GRRR)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $18.81, but opened at $22.10. Gorilla Technology Group shares last traded at $27.26, with a volume of 8,187,581 shares traded.

Gorilla Technology Group Stock Up 34.1%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.68 and a current ratio of 1.68. The company has a 50 day simple moving average of $18.36 and a 200 day simple moving average of $19.32.

Gorilla Technology Group (NASDAQ:GRRR) last announced its quarterly earnings results on Wednesday, June 18th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.01 by $0.22. The firm had revenue of $20.00 million for the quarter, compared to analyst estimates of $19.50 million. Research analysts predict that Gorilla Technology Group Inc. will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Gorilla Technology Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRRR. Anson Funds Management LP increased its stake in 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 worth $10,836,000 after acquiring an additional 582,661 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Gorilla Technology Group in the fourth quarter worth about $1,389,000. SG Americas Securities LLC purchased a new stake in shares of Gorilla Technology Group in the first quarter worth about $1,663,000. Toronto Dominion Bank purchased a new stake in shares of Gorilla Technology Group in the fourth quarter worth about $903,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Gorilla Technology Group in the fourth quarter worth about $737,000. 1.33% of the stock is currently owned by institutional investors and hedge funds.

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.