Gorilla Technology Group (NASDAQ:GRRR) Stock Price Up 13.1% – What’s Next?

Shares of Gorilla Technology Group Inc. (NASDAQ:GRRR) rose 13.1% during trading on Wednesday . The company traded as high as $29.20 and last traded at $29.96. Approximately 1,678,200 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 3,196,952 shares. The stock had previously closed at $26.49.

Wall Street Analysts Forecast Growth

Separately, Northland Securities raised their price objective on Gorilla Technology Group from $13.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd.

Gorilla Technology Group Stock Up 0.7 %

The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $17.58 and a 200 day moving average of $8.83.

Hedge Funds Weigh In On Gorilla Technology Group

Several hedge funds and other institutional investors have recently modified their holdings of GRRR. GSA Capital Partners LLP bought a new position in shares of Gorilla Technology Group during the 3rd quarter worth approximately $55,000. Transcendent Capital Group LLC bought a new position in shares of Gorilla Technology Group during the 4th quarter worth approximately $72,000. Vontobel Holding Ltd. bought a new position in shares of Gorilla Technology Group during the 3rd quarter worth approximately $81,000. Creative Financial Designs Inc. ADV bought a new position in Gorilla Technology Group in the 4th quarter valued at $135,000. Finally, Cetera Investment Advisers bought a new position in Gorilla Technology Group in the 4th quarter valued at $258,000. Institutional investors own 1.33% 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.