Gorilla Technology Group (NASDAQ:GRRR) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Gorilla Technology Group has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, signaling concerns about its future performance.
• The company's stock saw a significant decrease of 7.8% following the downgrade announcement, raising questions among investors.
• Gorilla Technology reported a loss of $0.20 per share in its latest quarterly earnings, missing estimates by $0.33, despite meeting revenue expectations of $21.50 million.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Gorilla Technology Group Stock Down 7.8%

NASDAQ:GRRR opened at $16.6050 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.48 and a current ratio of 2.16. The company has a fifty day moving average of $19.15 and a two-hundred day moving average of $20.78. Gorilla Technology Group has a fifty-two week low of $2.34 and a fifty-two week high of $44.15.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates 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. On average, equities research analysts forecast that Gorilla Technology Group will post 0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gorilla Technology Group

A number of hedge funds have recently modified their holdings of the business. Anson Funds Management LP increased its position in Gorilla Technology Group by 3,360.4% during the fourth quarter. Anson Funds Management LP now owns 600,000 shares of the company's stock worth $10,836,000 after purchasing an additional 582,661 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Gorilla Technology Group during the second quarter valued at about $3,672,000. SBI Securities Co. Ltd. increased its position in shares of Gorilla Technology Group by 31.3% during the second quarter. SBI Securities Co. Ltd. now owns 155,995 shares of the company's stock valued at $3,103,000 after acquiring an additional 37,230 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Gorilla Technology Group in the second quarter valued at approximately $1,412,000. Finally, SG Americas Securities LLC purchased a new position in shares of Gorilla Technology Group in the first quarter valued at approximately $1,663,000. 1.33% of the stock is currently owned by institutional investors and hedge funds.

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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