Stock Traders Purchase Large Volume of Gorilla Technology Group Put Options (NASDAQ:GRRR)

Gorilla Technology Group Inc. (NASDAQ:GRRR) saw some unusual options trading activity on Friday. Investors acquired 10,170 put options on the stock. This is an increase of approximately 119% compared to the average daily volume of 4,637 put options.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of Gorilla Technology Group by 58.1% during the first quarter. Royal Bank of Canada now owns 276,244 shares of the company’s stock worth $2,909,000 after purchasing an additional 101,551 shares during the period. DGS Capital Management LLC purchased a new position in Gorilla Technology Group during the 1st quarter worth approximately $170,000. SEB Asset Management AB purchased a new position in Gorilla Technology Group during the 1st quarter worth approximately $161,000. Themes Management Co LLC lifted its stake in Gorilla Technology Group by 8.0% during the 1st quarter. Themes Management Co LLC now owns 102,240 shares of the company’s stock valued at $1,077,000 after acquiring an additional 7,531 shares during the period. Finally, Rathbones Group PLC boosted its holdings in shares of Gorilla Technology Group by 69.9% in the 1st quarter. Rathbones Group PLC now owns 18,050 shares of the company’s stock valued at $190,000 after acquiring an additional 7,425 shares during the last quarter. 1.33% of the stock is owned by institutional investors and hedge funds.

Gorilla Technology Group Price Performance

Shares of NASDAQ:GRRR traded up $0.13 during mid-day trading on Friday, reaching $8.27. The stock had a trading volume of 289,844 shares, compared to its average volume of 1,041,541. The business’s 50 day moving average price is $12.92 and its 200 day moving average price is $14.17. Gorilla Technology Group has a 1 year low of $7.00 and a 1 year high of $23.49. The company has a market cap of $227.43 million, a P/E ratio of -15.32 and a beta of 0.41. The company has a current ratio of 2.24, a quick ratio of 2.91 and a debt-to-equity ratio of 0.37.

Gorilla Technology Group (NASDAQ:GRRR) last issued its quarterly earnings data on Monday, August 24th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.43). The business had revenue of $50.13 million for the quarter, compared to analyst estimates of $38.69 million. Research analysts expect that Gorilla Technology Group will post -1.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on GRRR. Wall Street Zen lowered shares of Gorilla Technology Group from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 30th. B. Riley Financial initiated coverage on shares of Gorilla Technology Group in a research report on Monday, August 31st. They issued a “buy” rating for the company. Compass Point started coverage on Gorilla Technology Group in a report on Tuesday, August 18th. They set a “buy” rating and a $44.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Gorilla Technology Group in a research note on Thursday, October 15th. Finally, Benchmark raised Gorilla Technology Group to a “strong-buy” rating in a report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.25.

About Gorilla Technology Group

Gorilla Technology Group Inc is a technology company that develops artificial intelligence, video analytics and edge-computing solutions for smart cities, public safety, enterprise security and other applications. Its platforms are designed to help organizations analyze video and other data in real time, supporting situational awareness, operational efficiency and automated decision-making.

The company’s offerings include intelligent video management and analytics, facial and object recognition, traffic and transportation monitoring, smart retail tools, security convergence and Internet of Things solutions.