Short Interest in Gorilla Technology Group Inc. (NASDAQ:GRRR) Grows By 26.7%

Gorilla Technology Group Inc. (NASDAQ:GRRR) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 745,300 shares, an increase of 26.7% from the October 31st total of 588,200 shares. Currently, 7.9% of the company’s stock are sold short. Based on an average daily trading volume, of 762,600 shares, the days-to-cover ratio is currently 1.0 days.

Hedge Funds Weigh In On Gorilla Technology Group

Several hedge funds have recently made changes to their positions in the company. Highbridge Capital Management LLC purchased a new position in shares of Gorilla Technology Group during the second quarter worth $480,000. Vontobel Holding Ltd. purchased a new position in shares of Gorilla Technology Group during the 3rd quarter valued at about $81,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Gorilla Technology Group during the 3rd quarter valued at about $55,000. 1.33% of the stock is owned by institutional investors and hedge funds.

Gorilla Technology Group Price Performance

Gorilla Technology Group stock traded up $1.25 during mid-day trading on Monday, reaching $7.34. 4,370,256 shares of the company traded hands, compared to its average volume of 498,491. The firm’s fifty day moving average is $4.37 and its two-hundred day moving average is $3.76. Gorilla Technology Group has a fifty-two week low of $2.09 and a fifty-two week high of $13.00. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.08.

Analyst Ratings Changes

Separately, Northland Securities raised their price target on Gorilla Technology Group from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th.

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.