Gorilla Technology Group (NASDAQ:GRRR) Sees Large Volume Increase – Time to Buy?

Shares of Gorilla Technology Group Inc. (NASDAQ:GRRR) saw strong trading volume on Wednesday . 4,621,366 shares traded hands during trading, an increase of 24% from the previous session’s volume of 3,726,666 shares.The stock last traded at $42.49 and had previously closed at $38.10.

Wall Street Analysts Forecast Growth

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

Gorilla Technology Group Stock Up 5.0 %

The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $19.78 and a two-hundred day moving average price of $10.17.

Institutional Trading of Gorilla Technology Group

Several hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP bought a new stake in shares of Gorilla Technology Group in the 3rd quarter worth about $55,000. Transcendent Capital Group LLC bought a new stake in Gorilla Technology Group during the fourth quarter worth approximately $72,000. SBI Securities Co. Ltd. purchased a new stake in Gorilla Technology Group during the fourth quarter valued at approximately $1,389,000. Commonwealth Equity Services LLC lifted its stake in shares of Gorilla Technology Group by 41.2% in the 4th 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, Creative Financial Designs Inc. ADV purchased a new position in shares of Gorilla Technology Group in the 4th quarter worth approximately $135,000. 1.33% of the stock is owned by hedge funds and other institutional investors.

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.