Traders Buy Large Volume of Call Options on Gorilla Technology Group (NASDAQ:GRRR)

Key Points

• Gorilla Technology Group saw a notable increase in options trading with 9,969 call options purchased, a 26% rise from the average volume of 7,883.
• Despite the surge in options trading, the company's stock price fell by 2.9% to $17.10, with a trading volume significantly above its average.
• Gorilla Technology Group reported earnings of $0.23 per share, surpassing analysts' expectations of $0.01, with revenues of $20 million compared to forecasts of $19.5 million.

Gorilla Technology Group Inc. (NASDAQ:GRRR - Get Free Report) was the target of some unusual options trading on Thursday. Traders acquired 9,969 call options on the stock. Thisisanincreaseof26% compared to the typical volume of 7,883 call options.

Gorilla Technology Group Trading Up 3.4%

Shares of GRRR stock traded up $0.60 during trading hours on Monday, hitting $18.07. The stock had a trading volume of 297,771 shares, compared to its average volume of 2,814,776. Gorilla Technology Group has a twelve month low of $2.31 and a twelve month high of $44.15. The stock's 50 day moving average is $19.30 and its 200 day moving average is $20.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.48 and a quick ratio of 2.48.

Gorilla Technology Group (NASDAQ:GRRR - Get Free Report) last released its quarterly earnings results on Wednesday, June 18th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.01 by $0.22. The company had revenue of $20.00 million for the quarter, compared to analysts' expectations of $19.50 million. As a group, equities analysts anticipate that Gorilla Technology Group will post 0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Twin Tree Management LP purchased a new position in shares of Gorilla Technology Group in the first quarter valued at $27,000. Bank of America Corp DE boosted its stake in shares of Gorilla Technology Group by 60.0% during the second 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 during the last quarter. NewEdge Advisors LLC acquired a new stake in Gorilla Technology Group in the 1st quarter worth about $61,000. Entropy Technologies LP acquired a new stake in Gorilla Technology Group in the 2nd quarter worth about $199,000. Finally, Geode Capital Management LLC acquired a new stake in Gorilla Technology Group in the 2nd quarter worth about $251,000. Hedge funds and other institutional investors own 1.33% of the company's stock.

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.