GigaCloud Technology (NASDAQ:GCT) Trading Up 2.1%

GigaCloud Technology Inc. (NASDAQ:GCTGet Free Report)’s share price traded up 2.1% during mid-day trading on Friday . The company traded as high as $28.88 and last traded at $26.72. 2,637,002 shares were traded during mid-day trading, a decline of 24% from the average session volume of 3,449,255 shares. The stock had previously closed at $26.16.

Analyst Ratings Changes

Separately, Roth Mkm lifted their target price on GigaCloud Technology from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 7th.

View Our Latest Research Report on GigaCloud Technology

GigaCloud Technology Stock Performance

The stock has a 50-day moving average of $30.43 and a 200-day moving average of $18.75. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 11.62 and a beta of 2.40.

Insider Activity at GigaCloud Technology

In other GigaCloud Technology news, CFO David Kwok Hei Lau sold 2,619 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $30.50, for a total transaction of $79,879.50. Following the transaction, the chief financial officer now owns 27,803 shares of the company’s stock, valued at approximately $847,991.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other GigaCloud Technology news, COO Xinyan Hao sold 38,064 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $27.77, for a total transaction of $1,057,037.28. Following the transaction, the chief operating officer now owns 1,110,848 shares of the company’s stock, valued at approximately $30,848,248.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Kwok Hei Lau sold 2,619 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $30.50, for a total value of $79,879.50. Following the transaction, the chief financial officer now directly owns 27,803 shares in the company, valued at approximately $847,991.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 269,287 shares of company stock valued at $7,800,805. 45.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GCT. Morgan Stanley bought a new position in shares of GigaCloud Technology during the 4th quarter worth approximately $25,000. State of Wyoming bought a new position in shares of GigaCloud Technology during the 2nd quarter worth approximately $27,000. CWM LLC bought a new stake in GigaCloud Technology in the 4th quarter valued at $30,000. Quarry LP bought a new stake in GigaCloud Technology in the 4th quarter valued at $47,000. Finally, UBS Group AG bought a new stake in GigaCloud Technology in the 3rd quarter valued at $61,000. 34.94% of the stock is currently owned by institutional investors.

GigaCloud Technology Company Profile

(Get Free Report)

GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise. Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia, and Europe to execute cross-border transactions across furniture, home appliance, fitness equipment, and other large parcel categories.

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