Gorilla Technology Group (NASDAQ:GRRR) Stock Price Up 11.1% – Time to Buy?

Gorilla Technology Group Inc. (NASDAQ:GRRR)’s share price shot up 11.1% during trading on Monday . The company traded as high as $19.80 and last traded at $19.4220. Approximately 1,411,374 shares traded hands during mid-day trading, an increase of 39% from the average session volume of 1,012,049 shares. The stock had previously closed at $17.48.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Zacks Research raised Gorilla Technology Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 price target on shares of Gorilla Technology Group in a report on Thursday, June 4th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.00.

Gorilla Technology Group Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.91 and a current ratio of 2.91. The stock has a market capitalization of $520.66 million, a PE ratio of 220.89 and a beta of 0.29. The stock’s 50 day moving average is $15.93 and its two-hundred day moving average is $13.43.

Gorilla Technology Group (NASDAQ:GRRR) last posted its quarterly earnings data on Wednesday, May 27th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.29). The business had revenue of $28.23 million during the quarter, compared to the consensus estimate of $26.01 million. On average, equities analysts anticipate that Gorilla Technology Group Inc. will post 1.61 EPS for the current fiscal year.

Insider Activity

In related news, Director Evan S. Medeiros sold 12,604 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $12.16, for a total transaction of $153,264.64. Following the completion of the sale, the director directly owned 20,936 shares in the company, valued at approximately $254,581.76. The trade was a 37.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On Gorilla Technology Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its holdings in shares of Gorilla Technology Group by 60.0% during the second quarter. Bank of America Corp DE now owns 1,920 shares of the company’s stock worth $38,000 after buying an additional 720 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Gorilla Technology Group by 1.4% in the third quarter. Legal & General Group Plc now owns 72,077 shares of the company’s stock worth $1,331,000 after buying an additional 1,013 shares in the last quarter. NewEdge Advisors LLC acquired a new position in Gorilla Technology Group during the first quarter worth about $61,000. Cetera Investment Advisers boosted its position in Gorilla Technology Group by 8.1% during the first quarter. Cetera Investment Advisers now owns 31,303 shares of the company’s stock worth $330,000 after acquiring an additional 2,358 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in Gorilla Technology Group during the 3rd quarter valued at about $50,000. Institutional investors and hedge funds own 1.33% of the company’s stock.

Gorilla Technology Group Company Profile

Gorilla Technology Group is a Taiwan‐based provider of video computing and artificial intelligence solutions, offering software and hardware platforms for real‐time video analytics, facial recognition and edge‐computing applications. The company’s core business centers on the development of AI‐driven surveillance technologies that can be deployed in cloud, on-premise or hybrid environments. Gorilla Technology Group’s platforms are designed to process high-volume video data streams for security monitoring, operational optimization and business intelligence.

The company’s flagship offerings include video management systems integrated with smart analytics modules, IoT gateways for edge-level data processing and AI engines for tasks such as people counting, license plate recognition and behavioral analysis.