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

Key Points

• B. Riley Financial initiated coverage of Gorilla Technology Group with a “buy” rating and a $25 price target, implying 73.49% potential upside from the stock’s $14.41 price.
• Analyst sentiment is mixed: three analysts rate the stock a Buy, one a Hold and one a Sell, resulting in an overall “Hold” consensus and an average price target of $37.25.
• Gorilla reported quarterly revenue of $50.13 million, exceeding estimates of $38.69 million, but posted a $0.40 per-share loss versus expectations for $0.03 in earnings.

Equities research analysts at B. Riley Financial started coverage on shares of Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) in a research note issued to investors on Monday. The brokerage set a "buy" rating and a $25.00 price target on the stock. B. Riley Financial's target price suggests a potential upside of 73.49% from the company's current price.

A number of other equities research analysts have also weighed in on the stock. Compass Point started coverage on shares of Gorilla Technology Group in a report on Tuesday, August 18th. They set a "buy" rating and a $44.00 target price on the stock. Zacks Research raised Gorilla Technology Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 19th. Wall Street Zen downgraded shares of Gorilla Technology Group from a "sell" rating to a "strong sell" rating in a research report on Sunday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $40.00 price target on shares of Gorilla Technology Group in a research report on Thursday, June 4th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Gorilla Technology Group in a research report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $37.25.

Gorilla Technology Group Price Performance

Shares of NASDAQ GRRR opened at $14.41 on Monday. The firm has a market cap of $396.42 million, a P/E ratio of 160.11 and a beta of 0.34. The business's 50 day moving average is $14.91 and its 200-day moving average is $13.93. The company has a current ratio of 2.24, a quick ratio of 2.91 and a debt-to-equity ratio of 0.37. Gorilla Technology Group has a 1-year low of $9.04 and a 1-year high of $23.49.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) last posted its quarterly earnings data on Monday, August 24th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.43). The business had revenue of $50.13 million during the quarter, compared to analysts' expectations of $38.69 million. Equities research analysts predict that Gorilla Technology Group will post -1.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRRR. NewEdge Advisors LLC purchased a new position in shares of Gorilla Technology Group in the first quarter worth about $61,000. Goldman Sachs Group Inc. bought a new position in Gorilla Technology Group in the 1st quarter worth approximately $477,000. Geode Capital Management LLC bought a new position in Gorilla Technology Group in the 2nd quarter worth approximately $251,000. Cetera Investment Advisers grew its stake in Gorilla Technology Group by 28.4% in the 2nd quarter. Cetera Investment Advisers now owns 20,622 shares of the company's stock valued at $410,000 after buying an additional 4,557 shares in the last quarter. Finally, Raymond James Financial Inc. grew its stake in Gorilla Technology Group by 21.8% in the 2nd quarter. Raymond James Financial Inc. now owns 17,698 shares of the company's stock valued at $352,000 after buying an additional 3,168 shares in the last quarter. 1.33% of the stock is currently owned by hedge funds and other 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.

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