Gorilla Technology Group (NASDAQ:GRRR) Rating Increased to Strong-Buy at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald upgraded Gorilla Technology Group (NASDAQ:GRRR) to a strong-buy in a research note issued Thursday.
• Analyst views are mixed—Weiss Ratings reiterated a "sell (d-)", Zacks cut the stock to "strong sell", and MarketBeat's consensus remains a Hold with an average price target of $24.50.
• Shares opened at $13.74 and were down 7.7%, with a market cap of $276.7M; the company recently missed quarterly estimates, reporting $0.24 EPS vs. $0.26 expected and $26.48M revenue vs. $26.50M estimated.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) was upgraded by analysts at Cantor Fitzgerald to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other equities research analysts have also commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Gorilla Technology Group in a research note on Wednesday, November 19th. Zacks Research cut Gorilla Technology Group from a "hold" rating to a "strong sell" rating in a report on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $24.50.

Gorilla Technology Group Stock Down 7.7%

Shares of GRRR opened at $13.74 on Thursday. The firm has a market cap of $276.72 million, a PE ratio of 50.89 and a beta of -0.27. The company's fifty day moving average is $15.38 and its two-hundred day moving average is $17.63. Gorilla Technology Group has a fifty-two week low of $8.31 and a fifty-two week high of $44.15. The company has a quick ratio of 3.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.02.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) last released its quarterly earnings data on Monday, November 17th. The company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.02). The firm had revenue of $26.48 million during the quarter, compared to analyst estimates of $26.50 million. Analysts forecast that Gorilla Technology Group will post 0.33 earnings per share for the current year.

Institutional Investors Weigh In On Gorilla Technology Group

Hedge funds have recently modified their holdings of the stock. J.W. Cole Advisors Inc. grew its position in Gorilla Technology Group by 3.0% in the second quarter. J.W. Cole Advisors Inc. now owns 22,055 shares of the company's stock valued at $439,000 after acquiring an additional 635 shares in the last quarter. Bank of America Corp DE grew its holdings in 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 valued at $38,000 after purchasing an additional 720 shares in the last quarter. Twin Tree Management LP acquired a new stake in Gorilla Technology Group during the 1st quarter valued at $27,000. Legal & General Group Plc increased its stake in Gorilla Technology Group by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 72,077 shares of the company's stock worth $1,331,000 after buying an additional 1,013 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in Gorilla Technology Group by 12.4% in the 1st quarter. Cetera Investment Advisers now owns 16,065 shares of the company's stock worth $476,000 after buying an additional 1,773 shares in the last quarter. 1.33% of the stock is currently owned by hedge funds and other institutional investors.

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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