Anson Funds Management LP Reduces Stock Position in Gorilla Technology Group Inc. $GRRR

Key Points

• Anson Funds Management LP has decreased its position in Gorilla Technology Group Inc. by 79.8%, reducing its shares from 599,000 to 121,137 during the first quarter of 2023.
• Gorilla Technology Group's stock has a current consensus rating of "Moderate Buy" with a target price of $18.00 following a downgrade from Zacks Research.
• Despite missing earnings expectations with a reported EPS of ($0.20), the company generated $21.50 million in revenue during the last quarter.

Anson Funds Management LP decreased its position in Gorilla Technology Group Inc. (NASDAQ:GRRR - Free Report) by 79.8% in the 1st quarter, according to its most recent 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 quarter. Anson Funds Management LP owned about 0.66% of Gorilla Technology Group worth $3,586,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Gorilla Technology Group during the first quarter worth about $318,000. Caitong International Asset Management Co. Ltd acquired a new stake in Gorilla Technology Group during the first quarter worth approximately $341,000. Creative Financial Designs Inc. ADV grew its stake in Gorilla Technology Group by 69.2% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 12,690 shares of the company's stock worth $376,000 after acquiring an additional 5,190 shares during the period. Cetera Investment Advisers acquired a new position in Gorilla Technology Group in the 4th quarter valued at $258,000. Finally, Stifel Financial Corp purchased a new position in shares of Gorilla Technology Group during the 4th quarter worth $412,000. 1.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Gorilla Technology Group Stock Up 4.3%

Shares of GRRR opened at $18.03 on Friday. Gorilla Technology Group Inc. has a twelve month low of $2.60 and a twelve month high of $44.15. The company has a quick ratio of 2.48, a current ratio of 2.16 and a debt-to-equity ratio of 0.05. The stock's fifty day simple moving average is $18.98 and its 200 day simple moving average is $20.85.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.33). The business had revenue of $21.50 million during the quarter, compared to the consensus estimate of $21.50 million. Equities research analysts expect 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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