Gorilla Technology Group Inc. (NASDAQ:GRRR) Sees Large Growth in Short Interest

Key Points

• Gorilla Technology Group Inc. saw a significant increase in short interest of 53.2% in July, bringing the total to 2,880,000 shares, which represents approximately 13.5% of its shares being sold short.
• Several institutional investors have increased their stakes in Gorilla Technology Group, with Anson Funds Management LP notably lifting its holdings by 3,360.4% during the fourth quarter.
• The company's recent earnings report showed an EPS of $0.23, exceeding analysts' estimates by $0.22, and revenue reached $20 million, surpassing expectations of $19.5 million.

Gorilla Technology Group Inc. (NASDAQ:GRRR - Get Free Report) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 2,880,000 shares, agrowthof53.2% from the June 30th total of 1,880,000 shares. Based on an average trading volume of 2,090,000 shares, the days-to-cover ratio is presently 1.4 days. Currently,13.5% of the shares of the stock are sold short. Currently,13.5% of the shares of the stock are sold short. Based on an average trading volume of 2,090,000 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Investors Weigh In On Gorilla Technology Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new stake in shares of Gorilla Technology Group during the first quarter valued at $27,000. NewEdge Advisors LLC purchased a new stake in shares of Gorilla Technology Group during the first quarter valued at $61,000. Geode Capital Management LLC purchased a new stake in shares of Gorilla Technology Group during the second quarter valued at $251,000. Cetera Investment Advisers purchased a new stake in shares of Gorilla Technology Group during the fourth quarter valued at $258,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Gorilla Technology Group during the first quarter valued at $318,000. 1.33% of the stock is owned by hedge funds and other institutional investors.

Gorilla Technology Group Stock Performance

Shares of GRRR stock traded up $0.03 during trading hours on Monday, hitting $17.09. 792,343 shares of the company's stock were exchanged, compared to its average volume of 2,830,841. Gorilla Technology Group has a 12-month low of $2.27 and a 12-month high of $44.15. The business's 50 day simple moving average is $19.54 and its 200-day simple moving average is $20.66. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 0.04.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) last issued its quarterly earnings data on Wednesday, June 18th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.22. The company had revenue of $20.00 million for the quarter, compared to analysts' expectations of $19.50 million. As a group, sell-side analysts expect that Gorilla Technology Group will post 0.33 EPS for the current fiscal year.

About Gorilla Technology Group

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.