GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $33.58, but opened at $34.31. GigaCloud Technology shares last traded at $35.97, with a volume of 923,024 shares.
Analyst Ratings Changes
Separately, Roth Mkm upped their price objective on shares of GigaCloud Technology from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd.
Read Our Latest Stock Analysis on GCT
GigaCloud Technology Stock Up 3.5 %
The firm has a market capitalization of $1.41 billion, a PE ratio of 15.11 and a beta of 2.26. The company’s 50-day simple moving average is $31.53 and its 200 day simple moving average is $19.54.
Insider Buying and Selling at GigaCloud Technology
In related news, COO Xinyan Hao sold 1,088 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $32.36, for a total value of $35,207.68. Following the completion of the transaction, the chief operating officer now directly owns 1,148,912 shares of the company’s stock, valued at approximately $37,178,792.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO David Kwok Hei Lau sold 2,619 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $30.50, for a total value of $79,879.50. Following the completion of the transaction, the chief financial officer now directly owns 27,803 shares of the company’s stock, valued at approximately $847,991.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Xinyan Hao sold 1,088 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $32.36, for a total transaction of $35,207.68. Following the completion of the transaction, the chief operating officer now directly owns 1,148,912 shares of the company’s stock, valued at $37,178,792.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 440,287 shares of company stock valued at $12,647,135. 45.30% of the stock is currently owned by insiders.
Hedge Funds Weigh In On GigaCloud Technology
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new position in GigaCloud Technology during the 3rd quarter worth approximately $9,634,000. Bridgeway Capital Management LLC purchased a new position in GigaCloud Technology during the 4th quarter worth approximately $6,036,000. Verition Fund Management LLC purchased a new position in GigaCloud Technology during the 4th quarter worth approximately $4,613,000. New York State Common Retirement Fund purchased a new position in GigaCloud Technology during the 3rd quarter worth approximately $1,895,000. Finally, Quadrature Capital Ltd purchased a new position in GigaCloud Technology during the 4th quarter worth approximately $2,803,000. Institutional investors and hedge funds own 34.94% of the company’s stock.
GigaCloud Technology Company Profile
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.
Further Reading
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