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) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 2,880,000 shares, anincreaseof53.2% from the June 30th total of 1,880,000 shares. Approximately13.5% of the company's shares are sold short. Based on an average trading volume of 2,090,000 shares, the days-to-cover ratio is presently 1.4 days. Based on an average trading volume of 2,090,000 shares, the days-to-cover ratio is presently 1.4 days. Approximately13.5% of the company's shares are sold short.

Hedge Funds Weigh In On Gorilla Technology Group

Several institutional investors have recently modified their holdings of the business. XTX Topco Ltd acquired a new stake in Gorilla Technology Group in the 4th quarter valued at about $426,000. Stifel Financial Corp purchased a new position in Gorilla Technology Group in the fourth quarter valued at $412,000. Anson Funds Management LP lifted its holdings in Gorilla Technology Group by 3,360.4% during the 4th quarter. Anson Funds Management LP now owns 600,000 shares of the company's stock worth $10,836,000 after buying an additional 582,661 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Gorilla Technology Group in the fourth quarter valued at approximately $737,000. Finally, Centiva Capital LP acquired a new stake in Gorilla Technology Group during the 4th quarter worth $424,000. Institutional investors and hedge funds own 1.33% of the company's stock.

Gorilla Technology Group Stock Down 0.1%

GRRR opened at $16.30 on Thursday. Gorilla Technology Group has a 52 week low of $2.12 and a 52 week high of $44.15. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.48 and a current ratio of 2.48. The stock's fifty day moving average is $19.57 and its two-hundred day moving average is $20.55.

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

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