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

Gorilla Technology Group Inc. (NASDAQ:GRRR) shares rose 13.1% during mid-day trading on Wednesday . The stock 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.

Analyst Ratings Changes

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

Gorilla Technology Group Stock Up 0.7 %

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

Institutional Investors Weigh In On Gorilla Technology Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in shares of Gorilla Technology Group in the 4th quarter valued at $72,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Gorilla Technology Group in the 4th quarter valued at $135,000. Commonwealth Equity Services LLC increased its stake in shares of Gorilla Technology Group by 41.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 39,991 shares of the company’s stock valued at $722,000 after buying an additional 11,663 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Gorilla Technology Group during the third quarter worth $55,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Gorilla Technology Group during the fourth quarter worth $258,000. 1.33% of the stock is owned by institutional investors and hedge funds.

Gorilla Technology Group Company Profile

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.