Gorilla Technology Group (NASDAQ:GRRR) Trading 11.6% Higher – Here’s What Happened

Gorilla Technology Group Inc. (NASDAQ:GRRR) rose 11.6% on Friday . The stock traded as high as $19.47 and last traded at $19.8060. Approximately 1,500,139 shares traded hands during trading, an increase of 87% from the average daily volume of 803,513 shares. The stock had previously closed at $17.74.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GRRR. Zacks Research upgraded Gorilla Technology Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 19th. Northland Securities set a $40.00 target price on shares of Gorilla Technology Group in a research report on Thursday, January 29th. One 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $35.50.

Gorilla Technology Group Stock Up 16.8%

The company has a market capitalization of $542.66 million, a P/E ratio of 75.74 and a beta of 0.16. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.02. The business’s fifty day moving average price is $12.76 and its 200 day moving average price is $12.75.

Insider Buying and Selling at Gorilla Technology Group

In other 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 value of $153,264.64. Following the transaction, the director directly owned 20,936 shares of the company’s stock, valued at $254,581.76. The trade was a 37.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 30.51% of the company’s stock.

Hedge Funds Weigh In On Gorilla Technology Group

Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its position in Gorilla Technology Group by 58.1% in the 1st quarter. Royal Bank of Canada now owns 276,244 shares of the company’s stock valued at $2,909,000 after acquiring an additional 101,551 shares in the last quarter. Themes Management Co LLC raised its position in Gorilla Technology Group by 8.0% in the 1st quarter. Themes Management Co LLC now owns 102,240 shares of the company’s stock worth $1,077,000 after purchasing an additional 7,531 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Gorilla Technology Group by 8.1% in the first quarter. Cetera Investment Advisers now owns 31,303 shares of the company’s stock valued at $330,000 after acquiring an additional 2,358 shares during the last quarter. SEB Asset Management AB acquired a new stake in Gorilla Technology Group during the 1st quarter worth $161,000. Finally, DGS Capital Management LLC bought a new stake in shares of Gorilla Technology Group during the 1st quarter valued at $170,000. 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.