Gorilla Technology Group (NASDAQ:GRRR) Shares Gap Up – Still a Buy?

Gorilla Technology Group Inc. (NASDAQ:GRRR) shares gapped up prior to trading on Wednesday . The stock had previously closed at $26.99, but opened at $30.00. Gorilla Technology Group shares last traded at $28.44, with a volume of 1,201,683 shares traded.

Analyst Upgrades and Downgrades

Separately, Northland Securities boosted their price target on shares of 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 Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.72 and a current ratio of 1.72. The business has a fifty day moving average of $21.12 and a 200-day moving average of $11.17.

Hedge Funds Weigh In On Gorilla Technology Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Transcendent Capital Group LLC bought a new position in shares of Gorilla Technology Group in the fourth quarter worth approximately $72,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Gorilla Technology Group in the 4th quarter worth about $135,000. GSA Capital Partners LLP purchased a new position in shares of Gorilla Technology Group during the 3rd quarter valued at about $55,000. Cetera Investment Advisers purchased a new position in shares of Gorilla Technology Group during the 4th quarter valued at about $258,000. Finally, Stifel Financial Corp purchased a new stake in Gorilla Technology Group in the fourth quarter worth approximately $412,000. 1.33% of the stock is currently owned by hedge funds and other institutional investors.

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.