Royal Bank of Canada Buys 101,551 Shares of Gorilla Technology Group Inc. $GRRR

Key Points

• Royal Bank of Canada increased its Gorilla Technology stake by 58.1%, purchasing 101,551 additional shares to hold 276,244 shares worth approximately $2.9 million, or about 1.05% of the company.
• Analyst sentiment is mixed, with one Buy, one Hold and one Sell rating; the consensus rating is Hold with a $40 price target.
• Gorilla Technology shares recently traded up 6.1% to $16.37. In its latest quarter, the company reported $28.23 million in revenue but missed EPS estimates, posting a loss of $0.18 per share versus expectations of $0.11 in earnings.

Royal Bank of Canada raised its stake in shares of Gorilla Technology Group Inc. (NASDAQ:GRRR - Free Report) by 58.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 276,244 shares of the company's stock after acquiring an additional 101,551 shares during the quarter. Royal Bank of Canada owned approximately 1.05% of Gorilla Technology Group worth $2,909,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of Gorilla Technology Group by 60.0% during the 2nd quarter. Bank of America Corp DE now owns 1,920 shares of the company's stock worth $38,000 after purchasing an additional 720 shares in the last quarter. Legal & General Group Plc boosted its position in Gorilla Technology Group by 1.4% in the third quarter. Legal & General Group Plc now owns 72,077 shares of the company's stock valued at $1,331,000 after buying an additional 1,013 shares in the last quarter. NewEdge Advisors LLC bought a new stake in Gorilla Technology Group during the first quarter worth about $61,000. Cetera Investment Advisers grew its stake in Gorilla Technology Group by 8.1% during the first quarter. Cetera Investment Advisers now owns 31,303 shares of the company's stock worth $330,000 after buying an additional 2,358 shares during the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of Gorilla Technology Group by 21.8% during the second quarter. Raymond James Financial Inc. now owns 17,698 shares of the company's stock worth $352,000 after buying an additional 3,168 shares in the last quarter. Institutional investors and hedge funds own 1.33% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $40.00 target price on shares of Gorilla Technology Group in a research note on Thursday, June 4th. Zacks Research upgraded Gorilla Technology Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 19th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Gorilla Technology Group in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $40.00.

Gorilla Technology Group Trading Up 6.1%

GRRR opened at $16.37 on Friday. Gorilla Technology Group Inc. has a 1-year low of $9.04 and a 1-year high of $23.49. The stock has a market capitalization of $450.34 million, a PE ratio of 181.89 and a beta of 0.34. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $15.28 and a two-hundred day moving average price of $13.78.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) last announced its earnings results on Wednesday, May 27th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.29). The firm had revenue of $28.23 million for the quarter, compared to the consensus estimate of $26.01 million. As a group, equities analysts anticipate that Gorilla Technology Group Inc. will post 0.97 earnings per share for the current fiscal year.

About Gorilla Technology Group

Gorilla Technology Group is a Taiwan‐based provider of video computing and artificial intelligence solutions, offering software and hardware platforms for real‐time video analytics, facial recognition and edge‐computing applications. The company’s core business centers on the development of AI‐driven surveillance technologies that can be deployed in cloud, on-premise or hybrid environments. Gorilla Technology Group’s platforms are designed to process high-volume video data streams for security monitoring, operational optimization and business intelligence.

The company’s flagship offerings include video management systems integrated with smart analytics modules, IoT gateways for edge-level data processing and AI engines for tasks such as people counting, license plate recognition and behavioral analysis.

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