Gorilla Technology Group (NASDAQ:GRRR) Trading Down 12.9% – Time to Sell?

Gorilla Technology Group Inc. (NASDAQ:GRRR) fell 12.9% during trading on Thursday . The company traded as low as $38.68 and last traded at $36.49. 1,508,089 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 3,807,745 shares. The stock had previously closed at $41.91.

Analysts Set New Price Targets

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

Gorilla Technology Group Price Performance

The business’s 50-day moving average is $20.34 and its 200-day moving average is $10.39. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRRR. SBI Securities Co. Ltd. purchased a new position in Gorilla Technology Group during the fourth quarter valued at approximately $1,389,000. Transcendent Capital Group LLC purchased a new position in Gorilla Technology Group during the fourth quarter valued at approximately $72,000. GSA Capital Partners LLP purchased a new position in Gorilla Technology Group during the third quarter valued at approximately $55,000. Cetera Investment Advisers acquired a new stake in Gorilla Technology Group during the fourth quarter valued at $258,000. Finally, Toronto Dominion Bank acquired a new stake in Gorilla Technology Group during the fourth quarter valued at $903,000. 1.33% of the stock is currently owned by institutional investors and hedge funds.

Gorilla Technology Group Company Profile

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.