Goldman Sachs Group Inc. Purchases Shares of 16,102 Gorilla Technology Group Inc. $GRRR

Key Points

• Goldman Sachs Group Inc. acquired 16,102 shares of Gorilla Technology Group Inc., valued at approximately $477,000, representing about 0.09% ownership of the company.
• Multiple hedge funds increased their holdings in Gorilla Technology Group during the first quarter, with SBI Securities Co. Ltd. increasing its stake by 54.4% to a total of 118,765 shares.
• Zacks Research downgraded Gorilla Technology from a "strong-buy" to a "hold" rating, with an average target price of $18.00 for the stock.

Goldman Sachs Group Inc. purchased a new stake in Gorilla Technology Group Inc. (NASDAQ:GRRR - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 16,102 shares of the company's stock, valued at approximately $477,000. Goldman Sachs Group Inc. owned about 0.09% of Gorilla Technology Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. increased its holdings in shares of Gorilla Technology Group by 54.4% in the first quarter. SBI Securities Co. Ltd. now owns 118,765 shares of the company's stock valued at $3,515,000 after purchasing an additional 41,828 shares during the period. SG Americas Securities LLC acquired a new position in shares of Gorilla Technology Group in the first quarter valued at about $1,663,000. Oppenheimer & Co. Inc. acquired a new position in shares of Gorilla Technology Group in the first quarter valued at about $1,086,000. Sassicaia Capital Advisers LLC acquired a new position in shares of Gorilla Technology Group in the first quarter valued at about $710,000. Finally, Cetera Investment Advisers increased its holdings in shares of Gorilla Technology Group by 12.4% in 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 period. 1.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered Gorilla Technology Group from a "strong-buy" rating to a "hold" rating in a 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $18.00.

Gorilla Technology Group Stock Up 6.0%

Gorilla Technology Group stock opened at $19.90 on Friday. Gorilla Technology Group Inc. has a 52 week low of $3.60 and a 52 week high of $44.15. The business's 50-day moving average price is $17.68 and its 200 day moving average price is $19.34. The company has a quick ratio of 2.48, a current ratio of 2.16 and a debt-to-equity ratio of 0.05.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) last posted its 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 company had revenue of $21.50 million during the quarter, compared to analysts' expectations of $21.50 million. Sell-side analysts predict that Gorilla Technology Group Inc. will post 0.33 EPS for the current fiscal 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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