Gorilla Technology Group Sees Unusually Large Options Volume (NASDAQ:GRRR)

Key Points

• Gorilla Technology Group experienced a significant surge in options trading, with investors purchasing 15,699 call options—an increase of approximately 87% compared to the usual volume.
• The company recently underwent a downgrade from Zacks Research, which changed its rating from "strong-buy" to "hold," although it still maintains a consensus rating of "Moderate Buy" with a target price of $18.00.
• Gorilla Technology Group's stock performance showed volatility, trading at $19.61 after a daily increase, with a 12-month trading range of $3.33 to $44.15.

Gorilla Technology Group Inc. (NASDAQ:GRRR - Get Free Report) saw unusually large options trading on Wednesday. Stock investors bought 15,699 call options on the stock. This is an increase of approximately 87% compared to the typical volume of 8,390 call options.

Gorilla Technology Group Trading Up 4.8%

Shares of GRRR traded up $0.99 during mid-day trading on Friday, reaching $21.49. 3,468,649 shares of the company's stock traded hands, compared to its average volume of 1,423,004. The stock's 50-day moving average is $17.71 and its two-hundred day moving average is $19.57. Gorilla Technology Group has a 12 month low of $3.60 and a 12 month high of $44.15. The company has a current ratio of 2.16, a quick ratio of 2.48 and a debt-to-equity ratio of 0.05.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.33). The firm had revenue of $21.50 million during the quarter, compared to analysts' expectations of $21.50 million. On average, equities analysts anticipate that Gorilla Technology Group will post 0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GRRR. Twin Tree Management LP bought a new position in Gorilla Technology Group in the first quarter worth approximately $27,000. Bank of America Corp DE boosted its position 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 acquiring an additional 720 shares in the last quarter. NewEdge Advisors LLC bought a new stake in Gorilla Technology Group during the 1st quarter valued at $61,000. Entropy Technologies LP bought a new stake in Gorilla Technology Group during the 2nd quarter valued at $199,000. Finally, Geode Capital Management LLC bought a new stake in Gorilla Technology Group during the 2nd quarter valued at $251,000. Institutional investors own 1.33% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered Gorilla Technology Group from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.