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 lessened its position in Gorilla Technology Group Inc. (NASDAQ:GRRR - Free Report) by 79.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 121,137 shares of the company's stock after selling 478,863 shares during the quarter. Anson Funds Management LP owned approximately 0.66% of Gorilla Technology Group worth $3,586,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Twin Tree Management LP acquired a new position in Gorilla Technology Group during the first quarter valued at approximately $27,000. Cetera Investment Advisers boosted its position in Gorilla Technology Group by 12.4% during the first quarter. Cetera Investment Advisers now owns 16,065 shares of the company's stock valued at $476,000 after purchasing an additional 1,773 shares during the last quarter. NewEdge Advisors LLC acquired a new position in Gorilla Technology Group during the first quarter valued at approximately $61,000. Creative Financial Designs Inc. ADV boosted its position in Gorilla Technology Group by 69.2% during the first quarter. Creative Financial Designs Inc. ADV now owns 12,690 shares of the company's stock valued at $376,000 after purchasing an additional 5,190 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in Gorilla Technology Group during the first quarter valued at approximately $318,000. Institutional investors and hedge funds own 1.33% of the company's stock.

Analyst Upgrades and Downgrades

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 analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Gorilla Technology Group currently has a consensus rating of "Moderate Buy" and an average price target of $18.00.

Gorilla Technology Group Price Performance

Shares of GRRR stock opened at $17.76 on Thursday. The firm has a 50 day moving average price of $18.04 and a two-hundred day moving average price of $20.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.48 and a current ratio of 2.16. Gorilla Technology Group Inc. has a 12-month low of $3.05 and a 12-month high of $44.15.

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

Gorilla Technology Group Company Profile

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.

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