GigaCloud Technology (NASDAQ:GCT) Trading Up 3.9%

GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report)'s share price shot up 3.9% on Monday . The stock traded as high as $34.73 and last traded at $33.00. 1,834,872 shares were traded during trading, a decline of 41% from the average session volume of 3,109,849 shares. The stock had previously closed at $31.75.

Analyst Ratings Changes

Separately, Roth Mkm lifted 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.

GigaCloud Technology Trading Up 2.3 %

The company has a market capitalization of $1.32 billion, a P/E ratio of 14.12 and a beta of 2.27. The firm's 50 day moving average price is $32.50 and its two-hundred day moving average price is $20.58.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last issued its quarterly earnings results on Friday, March 15th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.29. The company had revenue of $244.74 million during the quarter, compared to analysts' expectations of $220.30 million. GigaCloud Technology had a net margin of 13.37% and a return on equity of 36.40%. Analysts anticipate that GigaCloud Technology Inc. will post 2.58 earnings per share for the current fiscal year.

Insider Transactions at GigaCloud Technology

In other news, COO Xinyan Hao sold 1,088 shares of the firm's 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 approximately $37,178,792.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Lei Wu sold 1,000 shares of the firm's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $29.53, for a total value of $29,530.00. Following the completion of the transaction, the chief executive officer now directly owns 1,248,994 shares of the company's stock, valued at $36,882,792.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Xinyan Hao sold 1,088 shares of the firm's stock in a transaction 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. Insiders sold 461,287 shares of company stock valued at $13,340,395 in the last ninety days.

Hedge Funds Weigh In On GigaCloud Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. bought a new position in GigaCloud Technology during the fourth quarter worth $991,000. Quadrature Capital Ltd bought a new position in GigaCloud Technology during the fourth quarter worth $2,803,000. Tucker Asset Management LLC boosted its position in GigaCloud Technology by 1,499.8% during the fourth quarter. Tucker Asset Management LLC now owns 7,999 shares of the company's stock worth $146,000 after purchasing an additional 7,499 shares during the period. Quarry LP bought a new position in GigaCloud Technology during the fourth quarter worth $47,000. Finally, Occudo Quantitative Strategies LP bought a new position in GigaCloud Technology during the fourth quarter worth $731,000. 34.94% of the stock is owned by institutional investors.

GigaCloud Technology Company Profile

GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise in the United States and internationally. The company offers GigaCloud Marketplace integrates product discovery to payments to logistics tools into one easy-to-use platform. 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.