Sassicaia Capital Advisers LLC Purchases New Stake in Gorilla Technology Group Inc. $GRRR

Key Points

• Sassicaia Capital Advisers LLC has acquired a new position in Gorilla Technology Group Inc., purchasing 24,000 shares valued at approximately $710,000, making it the 11th largest position in their portfolio.
• Gorilla Technology Group's stock has experienced significant interest from institutional investors, with Dramatic increases in stakes from firms like Anson Funds Management, which raised its holdings by over 3,360%.
• Analyst ratings for Gorilla Technology Group have shifted, with Zacks Research lowering their rating from "strong-buy" to "hold," while the stock currently has a moderate buy average rating and a price target of $18.00.

Sassicaia Capital Advisers LLC bought a new stake in shares of Gorilla Technology Group Inc. (NASDAQ:GRRR - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 24,000 shares of the company's stock, valued at approximately $710,000. Gorilla Technology Group makes up about 2.6% of Sassicaia Capital Advisers LLC's portfolio, making the stock its 11th biggest position. Sassicaia Capital Advisers LLC owned approximately 0.13% of Gorilla Technology Group as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in shares of Gorilla Technology Group during the fourth quarter worth about $737,000. SBI Securities Co. Ltd. grew its holdings in shares of Gorilla Technology Group by 54.4% during the first quarter. SBI Securities Co. Ltd. now owns 118,765 shares of the company's stock worth $3,515,000 after buying an additional 41,828 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Gorilla Technology Group during the fourth quarter worth about $258,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Gorilla Technology Group during the first quarter worth about $1,086,000. Finally, Stifel Financial Corp purchased a new stake in shares of Gorilla Technology Group during the fourth quarter worth about $412,000. 1.33% of the stock is currently owned by hedge funds and other institutional investors.

Gorilla Technology Group Price Performance

GRRR traded up $0.17 during trading on Wednesday, hitting $16.89. 928,161 shares of the company's stock were exchanged, compared to its average volume of 2,712,951. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.16 and a quick ratio of 2.48. Gorilla Technology Group Inc. has a 1 year low of $3.01 and a 1 year high of $44.15. The stock has a 50 day moving average price of $18.44 and a 200 day moving average price of $20.55.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.33). The business had revenue of $21.50 million for the quarter, compared to the consensus estimate of $21.50 million. Sell-side analysts expect that Gorilla Technology Group Inc. will post 0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded shares of 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $18.00.

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.