Gorilla Technology Group (NASDAQ:GRRR) Shares Gap Down – Here’s Why

Shares of Gorilla Technology Group Inc. (NASDAQ:GRRR) gapped down before the market opened on Tuesday . The stock had previously closed at $29.48, but opened at $27.20. Gorilla Technology Group shares last traded at $28.23, with a volume of 831,590 shares.

Wall Street Analysts Forecast Growth

Separately, Northland Securities increased their price target 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 0.1 %

The business has a fifty day simple moving average of $21.94 and a 200 day simple moving average of $12.08. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.08.

Hedge Funds Weigh In On Gorilla Technology Group

A number of hedge funds have recently made changes to their positions in GRRR. GSA Capital Partners LLP acquired a new position in shares of Gorilla Technology Group during the third quarter valued at approximately $55,000. Transcendent Capital Group LLC acquired a new position in shares of Gorilla Technology Group during the fourth quarter valued at approximately $72,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Gorilla Technology Group during the fourth quarter valued at approximately $135,000. Cetera Investment Advisers acquired a new position in shares of Gorilla Technology Group during the fourth quarter valued at approximately $258,000. Finally, Stifel Financial Corp acquired a new position in shares of Gorilla Technology Group during the fourth quarter valued at approximately $412,000. Institutional investors and hedge funds 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.