Gorilla Technology Group (NASDAQ:GRRR) Shares Up 4.8%

Gorilla Technology Group Inc. (NASDAQ:GRRR)’s stock price shot up 4.8% on Thursday . The company traded as high as $0.89 and last traded at $0.87. 690,365 shares changed hands during trading, a decline of 73% from the average session volume of 2,592,008 shares. The stock had previously closed at $0.83.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GRRR. Alliance Global Partners began coverage on shares of Gorilla Technology Group in a report on Thursday, October 12th. They set a “buy” rating for the company. Cantor Fitzgerald began coverage on shares of Gorilla Technology Group in a report on Wednesday, July 26th. They set an “overweight” rating and a $4.80 target price for the company. Finally, Northland Securities reduced their target price on shares of Gorilla Technology Group from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, August 11th.

Gorilla Technology Group Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.33 and a quick ratio of 1.33. The business’s 50-day simple moving average is $1.09 and its 200-day simple moving average is $1.79.

Institutional Investors Weigh In On Gorilla Technology Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRRR. Geode Capital Management LLC lifted its position in Gorilla Technology Group by 16.4% in the 2nd quarter. Geode Capital Management LLC now owns 65,361 shares of the company’s stock worth $137,000 after buying an additional 9,203 shares in the last quarter. Mint Tower Capital Management B.V. raised its holdings in shares of Gorilla Technology Group by 209.9% during the 1st quarter. Mint Tower Capital Management B.V. now owns 30,991 shares of the company’s stock valued at $149,000 after purchasing an additional 20,991 shares in the last quarter. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in shares of Gorilla Technology Group during the 2nd quarter valued at $284,000. Hedge funds and other institutional investors own 0.42% of the company’s stock.

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.