Gorilla Technology Group (NASDAQ:GRRR) Shares Down 5.1% – Here’s What Happened

Gorilla Technology Group Inc. (NASDAQ:GRRR) shares traded down 5.1% during mid-day trading on Monday . The stock traded as low as $31.85 and last traded at $31.86. 1,350,822 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 4,098,921 shares. The stock had previously closed at $33.59.

Wall Street Analysts Forecast Growth

Separately, Northland Securities lifted their price target 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 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 company has a fifty day simple moving average of $21.55 and a 200-day simple moving average of $11.73.

Hedge Funds Weigh In On Gorilla Technology Group

Several hedge funds have recently bought and sold shares of the business. Anson Funds Management LP lifted its position in Gorilla Technology Group by 3,360.4% during the 4th quarter. Anson Funds Management LP now owns 600,000 shares of the company’s stock worth $10,836,000 after acquiring an additional 582,661 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Gorilla Technology Group in the fourth quarter valued at about $1,389,000. Toronto Dominion Bank acquired a new stake in shares of Gorilla Technology Group during the 4th quarter worth approximately $903,000. BNP Paribas Financial Markets bought a new stake in Gorilla Technology Group in the 4th quarter valued at $737,000. Finally, XTX Topco Ltd bought a new stake in Gorilla Technology Group in the fourth quarter valued at about $426,000. 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.