Gorilla Technology Group (NASDAQ:GRRR) Upgraded to "Strong-Buy" at Benchmark

Key Points

• Benchmark upgraded Gorilla Technology Group to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $37.25.
• Gorilla reported quarterly revenue of $50.13 million, exceeding estimates of $38.69 million, but its adjusted loss of $0.40 per share missed the consensus estimate of $0.03 earnings per share.
• GRRR shares opened at $13.83, with a market capitalization of approximately $380.5 million and a 52-week trading range of $9.04 to $23.49; institutional investors own only 1.33% of the company.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) was upgraded by analysts at Benchmark to a "strong-buy" rating in a research note issued to investors on Tuesday, Zacks reports.

Several other equities research analysts have also recently weighed in on GRRR. Cantor Fitzgerald restated an "overweight" rating and issued a $40.00 price objective on shares of Gorilla Technology Group in a research report on Thursday, June 4th. Compass Point assumed coverage on shares of Gorilla Technology Group in a research report on Tuesday, August 18th. They set a "buy" rating and a $44.00 target price on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Gorilla Technology Group in a research report on Friday, July 17th. B. Riley Financial started coverage on shares of Gorilla Technology Group in a research note on Monday, August 31st. They set a "buy" rating on the stock. Finally, Wall Street Zen lowered shares of Gorilla Technology Group from a "sell" rating to a "strong sell" rating in a report on Sunday, August 30th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Gorilla Technology Group presently has a consensus rating of "Moderate Buy" and an average target price of $37.25.

Gorilla Technology Group Price Performance

Shares of GRRR stock opened at $13.83 on Tuesday. The stock's fifty day moving average is $13.71 and its 200-day moving average is $14.24. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.91 and a current ratio of 2.24. The stock has a market capitalization of $380.46 million, a PE ratio of -25.61 and a beta of 0.39. Gorilla Technology Group has a 52 week low of $9.04 and a 52 week high of $23.49.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) last released its quarterly earnings results on Monday, August 24th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.43). The company had revenue of $50.13 million during the quarter, compared to analyst estimates of $38.69 million. Equities research analysts expect that Gorilla Technology Group will post -1.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Gorilla Technology Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Rathbones Group PLC lifted its position in Gorilla Technology Group by 69.9% in the 1st quarter. Rathbones Group PLC now owns 18,050 shares of the company's stock valued at $190,000 after acquiring an additional 7,425 shares in the last quarter. Royal Bank of Canada increased its holdings in Gorilla Technology Group by 58.1% during the 1st quarter. Royal Bank of Canada now owns 276,244 shares of the company's stock worth $2,909,000 after purchasing an additional 101,551 shares in the last quarter. Themes Management Co LLC increased its holdings in Gorilla Technology Group by 8.0% during the 1st quarter. Themes Management Co LLC now owns 102,240 shares of the company's stock worth $1,077,000 after purchasing an additional 7,531 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Gorilla Technology Group by 8.1% in the 1st quarter. Cetera Investment Advisers now owns 31,303 shares of the company's stock valued at $330,000 after purchasing an additional 2,358 shares during the period. Finally, SEB Asset Management AB acquired a new stake in shares of Gorilla Technology Group in the 1st quarter valued at about $161,000. Institutional investors and hedge funds own 1.33% of the company's stock.

Gorilla Technology Group Company Profile

Gorilla Technology Group Inc is a technology company that provides artificial intelligence, computer vision and edge-computing solutions for government and enterprise customers. Its offerings are designed to help organizations analyze video and other data in real time, improve operational efficiency, and support security and automation initiatives.

The company develops solutions for smart cities, including intelligent transportation, public safety, surveillance, traffic management and related urban infrastructure applications.

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