Gorilla Technology Group (NASDAQ:GRRR) Trading Down 4.2% – What’s Next?

Shares of Gorilla Technology Group Inc. (NASDAQ:GRRR) dropped 4.2% on Monday . The company traded as low as $10.80 and last traded at $10.87. Approximately 402,391 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 940,291 shares. The stock had previously closed at $11.35.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Northland Securities set a $40.00 price objective on Gorilla Technology Group in a report on Thursday, January 29th. Zacks Research upgraded shares of Gorilla Technology Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Gorilla Technology Group in a research note on Wednesday, November 19th. Finally, Cantor Fitzgerald started coverage on shares of Gorilla Technology Group in a research note on Thursday, December 11th. They issued an “overweight” rating and a $31.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.50.

Gorilla Technology Group Trading Down 4.2%

The company has a market cap of $218.92 million, a price-to-earnings ratio of 40.26 and a beta of -0.24. The company has a current ratio of 3.64, a quick ratio of 3.64 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average price is $12.60 and its 200-day moving average price is $15.16.

Hedge Funds Weigh In On Gorilla Technology Group

Large investors have recently made changes to their positions in the company. Legal & General Group Plc acquired a new position in shares of Gorilla Technology Group in the second quarter valued at about $1,412,000. SBI Securities Co. Ltd. boosted its holdings in Gorilla Technology Group by 31.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 155,995 shares of the company’s stock valued at $3,103,000 after purchasing an additional 37,230 shares during the period. Jump Financial LLC acquired a new position in shares of Gorilla Technology Group during the 2nd quarter worth approximately $3,672,000. Hood River Capital Management LLC bought a new position in shares of Gorilla Technology Group during the second quarter worth approximately $738,000. Finally, Entropy Technologies LP acquired a new stake in shares of Gorilla Technology Group in the second quarter valued at approximately $199,000. Institutional investors own 1.33% of the company’s stock.

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.