Stock Traders Buy High Volume of Call Options on Gorilla Technology Group (NASDAQ:GRRR)

Gorilla Technology Group Inc. (NASDAQ:GRRR) saw some unusual options trading activity on Wednesday. Traders bought 12,285 call options on the company. This is an increase of approximately 1,152% compared to the typical daily volume of 981 call options.

Gorilla Technology Group Stock Up 23.6 %

NASDAQ:GRRR traded up $2.42 during trading hours on Wednesday, reaching $12.67. 2,797,249 shares of the stock were exchanged, compared to its average volume of 607,452. Gorilla Technology Group has a twelve month low of $2.09 and a twelve month high of $13.00. The business has a 50-day moving average of $5.24 and a two-hundred day moving average of $3.93. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.08.

Institutional Investors Weigh In On Gorilla Technology Group

Several institutional investors and hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new position in Gorilla Technology Group in the 3rd quarter valued at about $55,000. Vontobel Holding Ltd. purchased a new position in shares of Gorilla Technology Group in the third quarter valued at approximately $81,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of Gorilla Technology Group in the second quarter valued at approximately $480,000. Hedge funds and other institutional investors own 1.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Northland Securities upped their price objective on shares of Gorilla Technology Group from $9.00 to $13.00 and gave the stock an “outperform” rating in a report on Monday, December 9th.

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.