Short Interest in Gorilla Technology Group Inc. (NASDAQ:GRRR) Expands By 67.5%

Gorilla Technology Group Inc. (NASDAQ:GRRR) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 2,060,000 shares, an increase of 67.5% from the February 28th total of 1,230,000 shares. Approximately 12.2% of the company’s stock are sold short. Based on an average daily trading volume, of 4,160,000 shares, the days-to-cover ratio is presently 0.5 days.

Gorilla Technology Group Stock Performance

GRRR traded down $0.40 during trading on Friday, reaching $25.04. 1,423,336 shares of the stock traded hands, compared to its average volume of 1,583,496. The stock’s 50-day simple moving average is $23.76 and its two-hundred day simple moving average is $13.28. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.72 and a quick ratio of 1.72. Gorilla Technology Group has a fifty-two week low of $2.09 and a fifty-two week high of $44.15.

Institutional Investors Weigh In On Gorilla Technology Group

Several institutional investors have recently made changes to their positions in GRRR. Anson Funds Management LP increased its holdings in Gorilla Technology Group by 3,360.4% in the fourth quarter. Anson Funds Management LP now owns 600,000 shares of the company’s stock worth $10,836,000 after buying an additional 582,661 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Gorilla Technology Group during the 4th quarter worth $1,389,000. Toronto Dominion Bank bought a new position in shares of Gorilla Technology Group during the 4th quarter valued at $903,000. BNP Paribas Financial Markets acquired a new stake in shares of Gorilla Technology Group in the 4th quarter valued at $737,000. Finally, Commonwealth Equity Services LLC boosted its holdings in Gorilla Technology Group by 41.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 39,991 shares of the company’s stock worth $722,000 after purchasing an additional 11,663 shares in the last quarter. 1.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Northland Securities increased their target price on shares of 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 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.