Gorilla Technology Group (NASDAQ:GRRR) Trading 11.1% Higher – Should You Buy?

Gorilla Technology Group Inc. (NASDAQ:GRRR)’s share price shot 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 traded hands 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GRRR shares. Cantor Fitzgerald reissued an “overweight” rating and set a $40.00 price target on shares of Gorilla Technology Group in a research note on Thursday, June 4th. Zacks Research raised shares of Gorilla Technology Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $40.00.

Gorilla Technology Group Trading Up 8.4%

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

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

Insider Activity at Gorilla Technology Group

In related news, Director Evan S. Medeiros sold 12,604 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $12.16, for a total transaction of $153,264.64. Following the transaction, the director directly owned 20,936 shares of the company’s stock, valued at approximately $254,581.76. The trade was a 37.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Gorilla Technology Group

Several large investors have recently modified their holdings of GRRR. UBS Group AG lifted its position in Gorilla Technology Group by 191.6% during the fourth quarter. UBS Group AG now owns 600,310 shares of the company’s stock worth $6,555,000 after acquiring an additional 394,443 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Gorilla Technology Group by 82.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 122,456 shares of the company’s stock valued at $1,337,000 after purchasing an additional 55,155 shares during the period. Themes Management Co LLC bought a new stake in Gorilla Technology Group in the 4th quarter valued at about $1,034,000. Hennion & Walsh Asset Management Inc. grew its position in shares of Gorilla Technology Group by 39.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 20,765 shares of the company’s stock worth $227,000 after purchasing an additional 5,840 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Gorilla Technology Group during the third quarter worth approximately $50,000. 1.33% of the stock is owned by 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.