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

Gorilla Technology Group Inc. (NASDAQ:GRRR - Get Free Report) was the target of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 1,390,000 shares, a decline of 40.9% from the December 31st total of 2,350,000 shares. Approximately 14.7% of the company's stock are short sold. Based on an average daily volume of 2,340,000 shares, the short-interest ratio is currently 0.6 days.

Hedge Funds Weigh In On Gorilla Technology Group

A number of hedge funds and other institutional investors have recently modified their holdings of GRRR. Transcendent Capital Group LLC purchased a new position in Gorilla Technology Group in the fourth quarter worth $72,000. GSA Capital Partners LLP bought a new stake in shares of Gorilla Technology Group during the 3rd quarter worth $55,000. Finally, Vontobel Holding Ltd. purchased a new position in shares of Gorilla Technology Group in the 3rd quarter worth about $81,000. Hedge funds and other institutional investors own 1.33% of the company's stock.

Gorilla Technology Group Stock Up 8.2 %

Gorilla Technology Group stock traded up $1.19 during midday trading on Wednesday, hitting $15.67. 2,141,430 shares of the stock were exchanged, compared to its average volume of 2,977,892. Gorilla Technology Group has a 52-week low of $2.09 and a 52-week high of $25.88. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.08. The business's 50-day moving average price is $12.99 and its 200-day moving average price is $6.91.

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Wall Street Analyst Weigh In

Separately, Northland Securities raised their target price on Gorilla Technology Group from $13.00 to $18.00 and gave the company an "outperform" rating in a report on Wednesday, January 22nd.

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.