Anson Funds Management LP Has $3.59 Million Stock Holdings in Gorilla Technology Group Inc. $GRRR

Key Points

• Anson Funds Management LP has reduced its holdings in Gorilla Technology Group Inc. by 79.8%, owning approximately $3.59 million worth of the stock after selling a significant number of shares in the first quarter.
• Gorilla Technology Group recently received a downgrade from Zacks Research, changing its rating from "strong-buy" to "hold," although it still maintains a "Moderate Buy" consensus rating from analysts.
• The company reported earnings of $(0.20) per share, significantly missing analysts' estimates, with revenues equal to expectations at $21.50 million for the quarter.

Anson Funds Management LP decreased its stake in Gorilla Technology Group Inc. (NASDAQ:GRRR - Free Report) by 79.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,137 shares of the company's stock after selling 478,863 shares during the period. Anson Funds Management LP owned 0.66% of Gorilla Technology Group worth $3,586,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GRRR. Stifel Financial Corp bought a new stake in shares of Gorilla Technology Group in the 4th quarter worth approximately $412,000. BNP Paribas Financial Markets bought a new stake in shares of Gorilla Technology Group in the 4th quarter worth approximately $737,000. Cetera Investment Advisers bought a new stake in shares of Gorilla Technology Group in the 4th quarter worth approximately $258,000. Toronto Dominion Bank acquired a new stake in Gorilla Technology Group in the 4th quarter valued at approximately $903,000. Finally, SG Americas Securities LLC acquired a new stake in Gorilla Technology Group in the 1st quarter valued at approximately $1,663,000. Institutional investors own 1.33% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut Gorilla Technology Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

Gorilla Technology Group Trading Down 0.9%

Shares of NASDAQ GRRR traded down $0.17 during mid-day trading on Tuesday, reaching $17.66. The company had a trading volume of 332,772 shares, compared to its average volume of 2,610,552. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.48 and a current ratio of 2.16. The company has a 50-day moving average price of $17.85 and a two-hundred day moving average price of $19.94. Gorilla Technology Group Inc. has a 1-year low of $3.33 and a 1-year high of $44.15.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.33). The company had revenue of $21.50 million during the quarter, compared to analyst estimates of $21.50 million. On average, research analysts expect that Gorilla Technology Group Inc. will post 0.33 EPS for the current fiscal year.

About Gorilla Technology Group

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.