Gorilla Technology Group Inc. (NASDAQ:GRRR) Sees Significant Growth in Short Interest

Gorilla Technology Group Inc. (NASDAQ:GRRR) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 2,350,000 shares, an increase of 50.6% from the December 15th total of 1,560,000 shares. Currently, 24.8% of the shares of the stock are short sold. Based on an average trading volume of 2,010,000 shares, the days-to-cover ratio is presently 1.2 days.

Wall Street Analysts Forecast Growth

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

Gorilla Technology Group Stock Down 9.7 %

GRRR traded down $1.45 on Friday, hitting $13.44. 2,249,159 shares of the company were exchanged, compared to its average volume of 4,396,291. Gorilla Technology Group has a fifty-two week low of $2.09 and a fifty-two week high of $25.88. 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 business’s fifty day moving average is $10.65 and its 200 day moving average is $5.91.

Institutional Investors Weigh In On Gorilla Technology Group

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

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.