Gorilla Technology Group Inc. (NASDAQ:GRRR) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Gorilla Technology Group Inc. (NASDAQ:GRRR) have earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $37.25.

GRRR has been the subject of a number of recent research reports. Compass Point started 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. Wall Street Zen cut Gorilla Technology Group from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 30th. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 price target on shares of Gorilla Technology Group in a research note on Thursday, June 4th. B Riley assumed coverage on Gorilla Technology Group in a report on Monday, August 31st. They set a “buy” rating for the company. Finally, B. Riley Financial assumed coverage on shares of Gorilla Technology Group in a research report on Monday, August 31st. They issued a “buy” rating and a $25.00 price objective on the stock.

Gorilla Technology Group Price Performance

Shares of GRRR opened at $13.79 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.91 and a current ratio of 2.24. Gorilla Technology Group has a fifty-two week low of $9.04 and a fifty-two week high of $23.49. The firm has a 50-day simple moving average of $14.62 and a 200-day simple moving average of $13.98. The company has a market capitalization of $379.36 million, a price-to-earnings ratio of -25.54 and a beta of 0.39.

Gorilla Technology Group (NASDAQ:GRRR) last issued its quarterly earnings results on Monday, August 24th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.43). The company had revenue of $50.13 million during the quarter, compared to analysts’ expectations of $38.69 million. On average, equities research analysts anticipate that Gorilla Technology Group will post -1.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in 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 purchasing an additional 720 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in Gorilla Technology Group in the 1st quarter valued at approximately $61,000. Sunbelt Securities Inc. purchased a new stake in Gorilla Technology Group in the 3rd quarter valued at approximately $90,000. Vident Advisory LLC purchased a new stake in Gorilla Technology Group in the 4th quarter valued at approximately $110,000. Finally, SEB Asset Management AB acquired a new position in Gorilla Technology Group during the 1st quarter worth approximately $161,000. 1.33% of the stock is currently owned by institutional investors and hedge funds.

Gorilla Technology Group Company Profile

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.