Gorilla Technology Group (NASDAQ:GRRR) Shares Gap Down – Should You Sell?

Gorilla Technology Group Inc. (NASDAQ:GRRR) shares gapped down prior to trading on Friday . The stock had previously closed at $30.34, but opened at $29.35. Gorilla Technology Group shares last traded at $27.86, with a volume of 1,254,403 shares trading hands.

Analyst Ratings Changes

Separately, Northland Securities lifted their target price on Gorilla Technology Group from $13.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd.

Gorilla Technology Group Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.72 and a current ratio of 1.72. The firm’s fifty day simple moving average is $15.51 and its 200 day simple moving average is $7.95.

Institutional Investors Weigh In On Gorilla Technology Group

Several institutional investors have recently added to or reduced their stakes in GRRR. Stifel Financial Corp bought a new stake in shares of Gorilla Technology Group in the fourth quarter valued at about $412,000. XTX Topco Ltd acquired a new position in Gorilla Technology Group during the 4th quarter worth approximately $426,000. Creative Financial Designs Inc. ADV bought a new position in shares of Gorilla Technology Group during the 4th quarter worth approximately $135,000. Commonwealth Equity Services LLC raised its holdings in shares of Gorilla Technology Group by 41.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 39,991 shares of the company’s stock valued at $722,000 after purchasing an additional 11,663 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Gorilla Technology Group in the fourth quarter worth $1,389,000. 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.