Short Interest in Gorilla Technology Group Inc. (NASDAQ:GRRR) Drops By 5.7%

Gorilla Technology Group Inc. (NASDAQ:GRRR) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 588,200 shares, a drop of 5.7% from the October 15th total of 623,500 shares. Approximately 6.2% of the company’s stock are short sold. Based on an average daily volume of 691,500 shares, the days-to-cover ratio is currently 0.9 days.

Wall Street Analyst Weigh In

Separately, Northland Securities upped 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 Trading Down 4.2 %

Shares of GRRR stock opened at $4.12 on Monday. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $4.13 and a 200-day moving average of $3.82. Gorilla Technology Group has a one year low of $2.09 and a one year high of $13.00.

Institutional Investors Weigh In On Gorilla Technology Group

Institutional investors have recently added to or reduced their stakes in the company. Highbridge Capital Management LLC purchased a new stake in shares of Gorilla Technology Group during the second quarter valued at approximately $480,000. Vontobel Holding Ltd. purchased a new position in shares of Gorilla Technology Group in the 3rd quarter worth about $81,000. Finally, GSA Capital Partners LLP bought a new position in Gorilla Technology Group during the third quarter valued at about $55,000. 1.33% of the stock is owned by institutional investors.

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.