Gorilla Technology Group (NASDAQ:GRRR) Stock Price Down 4.2% – Time to Sell?

Posted by MarketBeat News on Nov 16th, 2024

Gorilla Technology Group Inc. (NASDAQ:GRRR – Get Free Report)’s share price was down 4.2% during trading on Friday . The company traded as low as $4.05 and last traded at $4.12. Approximately 340,111 shares traded hands during trading, a decline of 27% from the average daily volume of 463,525 shares. The stock had previously closed at $4.30.

Analysts Set New Price Targets

Separately, Northland Securities upped their target price on Gorilla Technology Group from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th.

View Our Latest Analysis on GRRR

Gorilla Technology Group Price Performance

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The firm has a fifty day moving average price of $4.13 and a 200 day moving average price of $3.85. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.08.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GRRR. GSA Capital Partners LLP acquired a new position in shares of Gorilla Technology Group during the 3rd quarter worth approximately $55,000. Vontobel Holding Ltd. acquired a new position in shares of Gorilla Technology Group in the third quarter valued at $81,000. Finally, Highbridge Capital Management LLC bought a new position in shares of Gorilla Technology Group in the second quarter valued at about $480,000. Institutional investors own 1.33% of the company’s stock.

About Gorilla Technology Group

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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.