GigaCloud Technology ( NASDAQ:GCT ) splits the stock gap to $26.16


The stock price of GigaCloud Technology Inc. (NASDAQ:GCT – Get Your Free Report ) rose in pre-market trading on Thursday. The stock had previously closed at $26.16 but opened at $28.00. Shares of GigaCloud Technology last traded at $28.32, with a volume of 665,457 shares.

Analyst upgrades and downgrades

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

Get our latest Research Report on GigaCloud Technology

GigaCloud Technology Stock Performance

The business’s 50-day moving average is $30.43 and its 200-day moving average is $18.72. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 11.62 and a beta of 2.40.

Internal Activity in GigaCloud Technology

In other GigaCloud Technology news, Director Frank Hurst Lin sold 94,413 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $27.38, for a total value of $2,585,027.94. Following the transaction, the director now directly owns 5,669,889 shares in the company, valued at $155,241,560.82. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction, the chief operating officer now directly owns 1,148,912 shares in the company, valued at $37,178,792.32. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. Also, Director Frank Hurst Lin sold 94,413 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $27.38, for a total transaction of $2,585,027.94. Following the completion of the transaction, the director now owns 5,669,889 shares in the company, valued at $155,241,560.82. Disclosure for this sale can be found here. Insiders have sold a total of 269,287 shares of company stock worth $7,800,805 over the last quarter. 45.30% of the shares are owned by company insiders.

Institutional investors weigh in on GigaCloud technology

Several large investors have recently bought and sold shares of the company. CWM LLC acquired a new position in GigaCloud Technology during the fourth quarter valued at $30,000. Quarry LP acquired a new stake in shares of GigaCloud Technology during the 4th quarter valued at about $47,000. State of Wyoming purchased a new stake in shares of GigaCloud Technology during the second quarter valued at approximately $27,000. Morgan Stanley acquired a new stake in shares of GigaCloud Technology during the 4th quarter valued at about $25,000. Finally, Royal Bank of Canada bought a new stake in shares of GigaCloud Technology during the 4th quarter worth about $108,000. Institutional investors own 34.94% of the company’s shares.

About GigaCloud technology

(Get free report)

GigaCloud Technology Inc provides end-to-end B2B e-commerce solutions for bulk goods. Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia and Europe to conduct cross-border transactions across furniture, home appliances, fitness equipment and other large parcel categories.

Read more



Get news and reviews for GigaCloud Technology Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for GigaCloud Technology and related companies with MarketBeat.com ‘s FREE daily email newsletter.

By admin

Leave a Reply

Your email address will not be published. Required fields are marked *