B. Riley Financial Begins Coverage on Gorilla Technology Group (NASDAQ:GRRR)

Research analysts at B. Riley Financial assumed coverage on shares of Gorilla Technology Group (NASDAQ:GRRR) in a research report issued on Monday. The brokerage set a “buy” rating and a $25.00 price target on the stock. B. Riley Financial’s price objective would suggest a potential upside of 73.49% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Gorilla Technology Group in a research note on Thursday, June 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Gorilla Technology Group in a report on Friday, July 17th. Compass Point began coverage on shares of Gorilla Technology Group in a research report on Tuesday, August 18th. They set a “buy” rating and a $44.00 price target for the company. Zacks Research raised shares of Gorilla Technology Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, Wall Street Zen downgraded Gorilla Technology Group from a “sell” rating to a “strong sell” rating in a research report on Sunday. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $37.25.

Gorilla Technology Group Price Performance

Shares of NASDAQ GRRR opened at $14.41 on Monday. The company has a quick ratio of 2.91, a current ratio of 2.24 and a debt-to-equity ratio of 0.37. The company has a market cap of $396.42 million, a P/E ratio of 160.11 and a beta of 0.34. Gorilla Technology Group has a 52 week low of $9.04 and a 52 week high of $23.49. The business has a 50-day simple moving average of $14.91 and a two-hundred day simple moving average of $13.93.

Gorilla Technology Group (NASDAQ:GRRR) last announced its quarterly earnings results on Monday, August 24th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.43). The firm had revenue of $50.13 million during the quarter, compared to analysts’ expectations of $38.69 million. Research analysts anticipate that Gorilla Technology Group will post -1.01 earnings per share for the current fiscal year.

Institutional Trading of Gorilla Technology Group

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in shares of Gorilla Technology Group by 60.0% in the 2nd quarter. Bank of America Corp DE now owns 1,920 shares of the company’s stock worth $38,000 after purchasing an additional 720 shares in the last quarter. NewEdge Advisors LLC bought a new stake in Gorilla Technology Group in the first quarter worth $61,000. Sunbelt Securities Inc. bought a new position in shares of Gorilla Technology Group during the third quarter valued at about $90,000. Vident Advisory LLC purchased a new stake in Gorilla Technology Group during the 4th quarter valued at about $110,000. Finally, SEB Asset Management AB bought a new stake in Gorilla Technology Group in the first quarter valued at approximately $161,000. 1.33% of the stock is 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.