Gorilla Technology Group (NASDAQ:GRRR) Announces Earnings Results, Misses Estimates By $0.28 EPS

Gorilla Technology Group (NASDAQ:GRRR) announced its earnings results on Monday. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28), FiscalAI reports. The company had revenue of $50.13 million during the quarter, compared to analysts’ expectations of $38.69 million.

Gorilla Technology Group Stock Down 1.4%

Shares of NASDAQ GRRR traded down $0.23 during mid-day trading on Monday, hitting $15.83. The company had a trading volume of 1,287,834 shares, compared to its average volume of 1,061,995. The company has a market capitalization of $435.48 million, a PE ratio of 175.89 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 has a one year low of $9.04 and a one year high of $23.49. The firm has a 50-day simple moving average of $15.11 and a two-hundred day simple moving average of $13.81.

Institutional Trading of Gorilla Technology Group

Several hedge funds and other institutional investors have recently modified their holdings of GRRR. Bank of America Corp DE lifted 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. NewEdge Advisors LLC bought a new position in Gorilla Technology Group in the first quarter valued at about $61,000. Sunbelt Securities Inc. acquired a new position in Gorilla Technology Group during the 3rd quarter worth approximately $90,000. Vident Advisory LLC bought a new position in shares of Gorilla Technology Group in the 4th quarter valued at $110,000. Finally, Geode Capital Management LLC acquired a new position in shares of Gorilla Technology Group in the second quarter valued at approximately $251,000. Institutional investors own 1.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on GRRR. Compass Point began coverage on Gorilla Technology Group in a research report on Tuesday, August 18th. They set a “buy” rating and a $44.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Gorilla Technology Group in a report on Friday, July 17th. Wall Street Zen cut shares of Gorilla Technology Group from a “hold” rating to a “sell” rating in a research note on Saturday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Gorilla Technology Group in a research note on Thursday, June 4th. Finally, Zacks Research raised Gorilla Technology Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Gorilla Technology Group currently has a consensus rating of “Hold” and an average target price of $41.33.

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.