Zacks Research Upgrades Gorilla Technology Group (NASDAQ:GRRR) to Hold

Gorilla Technology Group (NASDAQ:GRRR) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald started coverage on shares of Gorilla Technology Group in a research report on Thursday, December 11th. They set an “overweight” rating and a $31.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gorilla Technology Group in a report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Gorilla Technology Group presently has an average rating of “Moderate Buy” and an average target price of $24.50.

Gorilla Technology Group Trading Down 4.2%

Shares of NASDAQ GRRR opened at $13.63 on Monday. Gorilla Technology Group has a 1-year low of $10.85 and a 1-year high of $44.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.64 and a quick ratio of 3.64. The business’s 50 day moving average is $13.00 and its two-hundred day moving average is $16.13. The stock has a market capitalization of $274.51 million, a P/E ratio of 50.48 and a beta of -0.25.

Gorilla Technology Group (NASDAQ:GRRR) last announced its earnings results on Monday, November 17th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The firm had revenue of $26.48 million during the quarter, compared to analysts’ expectations of $26.50 million. As a group, research analysts expect that Gorilla Technology Group will post 0.33 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted its holdings in Gorilla Technology Group by 60.0% during the 2nd quarter. Bank of America Corp DE now owns 1,920 shares of the company’s stock valued at $38,000 after buying an additional 720 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Gorilla Technology Group during the first quarter worth approximately $61,000. FNY Investment Advisers LLC bought a new stake in shares of Gorilla Technology Group during the third quarter valued at approximately $50,000. Sunbelt Securities Inc. purchased a new stake in shares of Gorilla Technology Group in the third quarter valued at approximately $90,000. Finally, Entropy Technologies LP bought a new position in Gorilla Technology Group in the second quarter worth approximately $199,000. 1.33% of the stock is currently owned by institutional investors.

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.