Gorilla Technology Group Inc. (NASDAQ:GRRR) Stock Has Average Target Price of $37.25 According to Analysts

Key Points

• Analyst consensus is “Hold” among five brokerages, with three buys, one hold and one sell; the average 12-month price target is $37.25.
• Gorilla Technology reported quarterly revenue of $50.13 million, beating estimates of $38.69 million, but posted a loss of $0.40 per share versus the expected $0.03 loss.
• The stock opened at $14.36, with a market capitalization of roughly $395 million and a 52-week range of $9.04 to $23.49; analysts expect a full-year loss of $1.86 per share.

Shares of Gorilla Technology Group Inc. (NASDAQ:GRRR - Get Free Report) have been assigned an average rating of "Hold" from the five brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $37.25.

GRRR has been the topic of several research reports. B. Riley Financial began coverage on shares of Gorilla Technology Group in a research report on Monday, August 31st. They set a "buy" rating on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Gorilla Technology Group in a research note on Friday, July 17th. 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. Wall Street Zen lowered shares of Gorilla Technology Group from a "sell" rating to a "strong sell" rating in a research report on Sunday, August 30th. Finally, Compass Point assumed coverage on shares of Gorilla Technology Group in a research note on Tuesday, August 18th. They set a "buy" rating and a $44.00 price target on the stock.

Gorilla Technology Group Stock Performance

NASDAQ GRRR opened at $14.36 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.24 and a quick ratio of 2.91. Gorilla Technology Group has a 1-year low of $9.04 and a 1-year high of $23.49. The company has a market cap of $395.04 million, a PE ratio of -26.59 and a beta of 0.39. The stock's 50 day simple moving average is $13.59 and its 200-day simple moving average is $14.17.

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 for the quarter, missing analysts' consensus estimates of $0.03 by ($0.43). The firm had revenue of $50.13 million during the quarter, compared to analyst estimates of $38.69 million. As a group, equities research analysts anticipate that Gorilla Technology Group will post -1.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Gorilla Technology Group

Large investors have recently modified their holdings of the business. Rathbones Group PLC raised its position in Gorilla Technology Group by 69.9% during the first quarter. Rathbones Group PLC now owns 18,050 shares of the company's stock worth $190,000 after acquiring an additional 7,425 shares during the last quarter. Royal Bank of Canada grew its position in shares of Gorilla Technology Group by 58.1% in the first quarter. Royal Bank of Canada now owns 276,244 shares of the company's stock valued at $2,909,000 after purchasing an additional 101,551 shares during the last quarter. Themes Management Co LLC increased its stake in shares of 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 position in shares of Gorilla Technology Group by 8.1% during the 1st quarter. Cetera Investment Advisers now owns 31,303 shares of the company's stock worth $330,000 after purchasing an additional 2,358 shares during the last quarter. Finally, SEB Asset Management AB acquired a new position in shares of Gorilla Technology Group during the 1st quarter worth approximately $161,000. 1.33% of the stock is owned by hedge funds and other institutional investors.

About Gorilla Technology Group

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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