GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) shares were up 1.6% during mid-day trading on Tuesday after Roth Mkm raised their price target on the stock from $28.00 to $35.00. Roth Mkm currently has a buy rating on the stock. GigaCloud Technology traded as high as $31.44 and last traded at $31.28. Approximately 1,008,513 shares changed hands during trading, a decline of 68% from the average daily volume of 3,119,410 shares. The stock had previously closed at $30.79.
Insider Buying and Selling at GigaCloud Technology
In other GigaCloud Technology news, COO Xinyan Hao sold 38,064 shares of the company'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 value of $1,057,037.28. Following the completion of 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 SEC, which is available at this hyperlink. In other news, COO Xinyan Hao sold 38,064 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $27.77, for a total value of $1,057,037.28. Following the completion of the transaction, the chief operating officer now directly owns 1,110,848 shares of the company's stock, valued at approximately $30,848,248.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Xin Wan sold 150,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $27.26, for a total value of $4,089,000.00. Following the completion of the transaction, the chief technology officer now directly owns 947,540 shares of the company's stock, valued at $25,829,940.40. The disclosure for this sale can be found here. Insiders sold a total of 419,287 shares of company stock valued at $11,889,805 in the last quarter.
Institutional Investors Weigh In On GigaCloud Technology
A number of large investors have recently bought and sold shares of the business. CWM LLC bought a new position in shares of GigaCloud Technology in the 4th quarter worth $30,000. Quarry LP bought a new position in shares of GigaCloud Technology in the 4th quarter worth $47,000. State of Wyoming bought a new position in shares of GigaCloud Technology in the 2nd quarter worth $27,000. Morgan Stanley bought a new position in shares of GigaCloud Technology in the 4th quarter worth $25,000. Finally, Royal Bank of Canada bought a new position in shares of GigaCloud Technology in the 4th quarter worth $108,000. 34.94% of the stock is currently owned by institutional investors.
GigaCloud Technology Stock Performance
The firm has a market capitalization of $1.35 billion, a P/E ratio of 14.46 and a beta of 2.27. The company has a 50-day moving average price of $30.86 and a 200-day moving average price of $19.09.
About GigaCloud Technology
(
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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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