Gorilla Technology Group Inc [NASDAQ: GRRR] loss -15.79% or -0.12 points to close at $0.64 with a heavy trading volume of 5185775 shares. The company report on April 10, 2024 at 8:00 AM that Gorilla Technology and Thames Freeport Announce Strategic Alliance, Advancing Smart City Innovations and Fostering Trade Partnerships.
Under this partnership, Gorilla Technology will spearhead the development of advanced technological frameworks within Thames Freeport’s infrastructure, focusing on enhancing efficiency, security and sustainability. This collaboration marks a significant milestone in Thames Freeport’s journey towards becoming a fully integrated smart city, setting new standards for the industry and represents a significant leap towards redefining its key industry sectors by setting benchmarks for efficiency, security and sustainable development.
The daily chart for GRRR points out that the company has recorded -21.94% loss over the past six months.
If we look at the average trading volume of 4.69M shares, GRRR reached to a volume of 5185775 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Gorilla Technology Group Inc [GRRR]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GRRR shares is $4.30 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GRRR stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Cantor Fitzgerald have made an estimate for Gorilla Technology Group Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 26, 2023.
The Average True Range (ATR) for Gorilla Technology Group Inc is set at 0.09 The Price to Book ratio for the last quarter was 0.92, with the Price to Cash per share for the same quarter was set at 0.43.
Trading performance analysis for GRRR stock
Gorilla Technology Group Inc [GRRR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.57. With this latest performance, GRRR shares dropped by -10.18% in over the last four-week period, additionally sinking by -21.94% over the last 6 months – not to mention a drop of -76.47% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GRRR stock in for the last two-week period is set at 39.39, with the RSI for the last a single of trading hit 34.49, and the three-weeks RSI is set at 42.61 for Gorilla Technology Group Inc [GRRR]. The present Moving Average for the last 50 days of trading for this stock 0.8062, while it was recorded at 0.7984 for the last single week of trading, and 1.1672 for the last 200 days.
Gorilla Technology Group Inc [GRRR]: A deeper dive into fundamental analysis
Gorilla Technology Group Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.57 and a Current Ratio set at 1.57.
An analysis of Institutional ownership at Gorilla Technology Group Inc [GRRR]
The top three institutional holders of GRRR stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in GRRR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in GRRR stock with ownership which is approximately 5.8386%.
