Gorilla Technology Group (NASDAQ:GRRR) Shares Up 11.9% – What’s Next?

Gorilla Technology Group Inc. (NASDAQ:GRRR) shares shot up 11.9% during mid-day trading on Friday . The company traded as high as $28.70 and last traded at $28.99. 1,586,423 shares were traded during mid-day trading, a decline of 61% from the average session volume of 4,020,121 shares. The stock had previously closed at $25.91.

Analysts Set New Price Targets

Separately, Northland Securities boosted their price objective 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 Price Performance

The stock’s 50-day moving average price is $21.55 and its 200 day moving average price is $11.67. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.08.

Institutional Trading of Gorilla Technology Group

Large investors have recently added to or reduced their stakes in the company. Anson Funds Management LP grew its holdings in shares of Gorilla Technology Group by 3,360.4% during the fourth quarter. Anson Funds Management LP now owns 600,000 shares of the company’s stock worth $10,836,000 after purchasing an additional 582,661 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Gorilla Technology Group during the 4th quarter valued at about $1,389,000. Toronto Dominion Bank bought a new position in Gorilla Technology Group in the fourth quarter valued at approximately $903,000. BNP Paribas Financial Markets bought a new position in Gorilla Technology Group during the fourth quarter worth about $737,000. Finally, XTX Topco Ltd bought a new stake in Gorilla Technology Group in the fourth quarter valued at approximately $426,000. 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.