Royal Bank of Canada Purchases 101,551 Shares of Gorilla Technology Group Inc. $GRRR

Royal Bank of Canada grew its position in Gorilla Technology Group Inc. (NASDAQ:GRRR) by 58.1% during the 1st quarter, HoldingsChannel reports. The firm owned 276,244 shares of the company’s stock after purchasing an additional 101,551 shares during the quarter. Royal Bank of Canada’s holdings in Gorilla Technology Group were worth $2,909,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GRRR. Bank of America Corp DE grew its holdings in shares of Gorilla Technology Group by 60.0% in the 2nd quarter. Bank of America Corp DE now owns 1,920 shares of the company’s stock valued at $38,000 after buying an additional 720 shares during the period. NewEdge Advisors LLC bought a new stake in shares of Gorilla Technology Group in the 1st quarter valued at $61,000. Sunbelt Securities Inc. acquired a new stake in Gorilla Technology Group during the 3rd quarter worth $90,000. Vident Advisory LLC acquired a new stake in Gorilla Technology Group during the 4th quarter worth $110,000. Finally, SEB Asset Management AB bought a new position in Gorilla Technology Group during the first quarter worth about $161,000. 1.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GRRR. Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 target price on shares of Gorilla Technology Group in a research note on Thursday, June 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Gorilla Technology Group in a research report on Friday, July 17th. Finally, Zacks Research upgraded Gorilla Technology Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.00.

Gorilla Technology Group Trading Up 6.1%

NASDAQ GRRR opened at $16.37 on Friday. The company has a market cap of $450.34 million, a PE ratio of 181.89 and a beta of 0.34. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.03. Gorilla Technology Group Inc. has a 12 month low of $9.04 and a 12 month high of $23.49. The stock has a 50 day moving average of $15.28 and a 200-day moving average of $13.78.

Gorilla Technology Group (NASDAQ:GRRR) last issued its earnings results on Wednesday, May 27th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.29). The company had revenue of $28.23 million for the quarter, compared to analyst estimates of $26.01 million. On average, equities research analysts anticipate that Gorilla Technology Group Inc. will post 0.97 EPS for the current fiscal year.

About Gorilla Technology Group

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.