Gorilla Technology Group's (GRRR) Sell (D) Rating Reaffirmed at Weiss Ratings

Key Points

• Gorilla Technology Group's stock rating has been reaffirmed as "sell (d)" by Weiss Ratings, which indicates ongoing concerns regarding the stock's performance.
• Analysts have downgraded Gorilla Technology from a "strong-buy" to a "hold," reflecting a consensus rating of "hold" with an average target price of $18.00.
• The company reported a loss of ($0.20) earnings per share for the last quarter, significantly missing analysts' expectations of a profit.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report)'s stock had its "sell (d)" rating restated by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, Zacks Research lowered shares of Gorilla Technology Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Gorilla Technology Group presently has a consensus rating of "Hold" and an average target price of $18.00.

Gorilla Technology Group Stock Up 1.2%

GRRR stock opened at $20.22 on Wednesday. The company's 50 day moving average price is $17.96 and its 200 day moving average price is $18.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.48 and a current ratio of 2.16. Gorilla Technology Group has a fifty-two week low of $3.71 and a fifty-two week high of $44.15.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) last released its earnings results 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 company had revenue of $21.50 million for the quarter, compared to analysts' expectations of $21.50 million. As a group, analysts forecast that Gorilla Technology Group will post 0.33 EPS for the current year.

Hedge Funds Weigh In On Gorilla Technology Group

A number of hedge funds have recently modified their holdings of GRRR. Jump Financial LLC purchased a new position in shares of Gorilla Technology Group during the second quarter worth approximately $3,672,000. Legal & General Group Plc purchased a new position in shares of Gorilla Technology Group during the second quarter worth approximately $1,412,000. SG Americas Securities LLC purchased a new position in shares of Gorilla Technology Group during the first quarter worth approximately $1,663,000. SBI Securities Co. Ltd. lifted its holdings in shares of Gorilla Technology Group by 54.4% during the first quarter. SBI Securities Co. Ltd. now owns 118,765 shares of the company's stock worth $3,515,000 after purchasing an additional 41,828 shares during the period. Finally, Hood River Capital Management LLC acquired a new stake in shares of Gorilla Technology Group during the second quarter worth $738,000. 1.33% of the stock is currently owned by hedge funds and other institutional investors.

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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