Short Interest in Gorilla Technology Group Inc. (NASDAQ:GRRR) Declines By 28.9%

Key Points

• Short interest in Gorilla Technology Group Inc. declined by 28.9% in September, falling from 2,560,000 shares to 1,820,000 shares, representing 8.5% of the company's shares sold short.
• The company's reported earnings per share for the previous quarter was ($0.20), missing analysts’ expectations of $0.13 by ($0.33).
• Current analyst ratings for Gorilla Technology Group include one Buy, one Hold, and one Sell, resulting in a consensus rating of "Hold" with an average price target of $18.00.

Gorilla Technology Group Inc. (NASDAQ:GRRR - Get Free Report) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 1,820,000 shares, a decline of 28.9% from the September 15th total of 2,560,000 shares. Currently, 8.5% of the shares of the company are sold short. Based on an average trading volume of 1,760,000 shares, the short-interest ratio is currently 1.0 days. Based on an average trading volume of 1,760,000 shares, the short-interest ratio is currently 1.0 days. Currently, 8.5% of the shares of the company are sold short.

Gorilla Technology Group Stock Performance

Shares of NASDAQ:GRRR traded down $0.02 during trading on Thursday, reaching $16.86. The company had a trading volume of 705,944 shares, compared to its average volume of 2,559,800. The company has a fifty day moving average of $18.19 and a two-hundred day moving average of $18.45. Gorilla Technology Group has a 12 month low of $3.71 and a 12 month high of $44.15. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.16 and a quick ratio of 2.48.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) last announced 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 firm had revenue of $21.50 million for the quarter, compared to analysts' expectations of $21.50 million. Equities analysts expect that Gorilla Technology Group will post 0.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on GRRR. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Gorilla Technology Group in a research report on Wednesday, October 8th. Zacks Research lowered shares of Gorilla Technology Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $18.00.

Institutional Investors Weigh In On Gorilla Technology Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. bought a new stake in Gorilla Technology Group during the 3rd quarter valued at $276,000. Osaic Holdings Inc. raised its holdings in Gorilla Technology Group by 104.9% during the 2nd quarter. Osaic Holdings Inc. now owns 58,198 shares of the company's stock valued at $1,158,000 after buying an additional 29,789 shares during the last quarter. Bank of America Corp DE raised 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 buying an additional 720 shares during the last quarter. Raymond James Financial Inc. raised its holdings in Gorilla Technology Group by 21.8% during the 2nd quarter. Raymond James Financial Inc. now owns 17,698 shares of the company's stock valued at $352,000 after buying an additional 3,168 shares during the last quarter. Finally, Hood River Capital Management LLC bought a new position in Gorilla Technology Group in the 2nd quarter worth $738,000. 1.33% of the stock is currently owned by 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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