Gorilla Technology Group (NASDAQ:GRRR) Trading Down 3.7% – Here’s What Happened

Shares of Gorilla Technology Group Inc. (NASDAQ:GRRR) dropped 3.7% during trading on Thursday . The stock traded as low as $10.42 and last traded at $10.46. Approximately 427,531 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 586,363 shares. The stock had previously closed at $10.86.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Cantor Fitzgerald began coverage on shares of Gorilla Technology Group in a report on Thursday, December 11th. They set an “overweight” rating and a $31.00 target price for the company. Zacks Research raised Gorilla Technology Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Northland Securities set a $40.00 price objective on Gorilla Technology Group in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Gorilla Technology Group currently has an average rating of “Hold” and an average price target of $35.50.

Gorilla Technology Group Trading Down 3.7%

The firm has a market cap of $210.66 million, a PE ratio of 38.74 and a beta of -0.21. The company has a 50-day simple moving average of $12.24 and a 200 day simple moving average of $14.27. The company has a current ratio of 3.33, a quick ratio of 3.64 and a debt-to-equity ratio of 0.02.

Institutional Trading of Gorilla Technology Group

A number of hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new stake in Gorilla Technology Group during the first quarter valued at $61,000. Goldman Sachs Group Inc. purchased a new position in Gorilla Technology Group in the first quarter valued at $477,000. Geode Capital Management LLC acquired a new position in shares of Gorilla Technology Group in the second quarter worth about $251,000. Cetera Investment Advisers boosted its stake in shares of Gorilla Technology Group by 28.4% during the 2nd quarter. Cetera Investment Advisers now owns 20,622 shares of the company’s stock worth $410,000 after acquiring an additional 4,557 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of Gorilla Technology Group during the 2nd quarter worth about $199,000. 1.33% of the stock is owned by hedge funds and other institutional investors.

About Gorilla Technology Group

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.