GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) stock rose significantly in pre-market trading on Thursday. The stock price opened at $28.00, having previously closed at $26.16. GigaCloud Technology stock last traded at $28.32, with volume of 665,457 shares.
Analyst upgrades and downgrades
Separately, Roth Mkm increased 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 the latest research report on GigaCloud technology
Giga Cloud Technology stock price performance
The company's 50 day moving average is $30.43 and its 200 day moving average is $18.72. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 11.62x, and a beta of 2.40x.
Insider activity at GigaCloud Technology
In other GigaCloud Technology news, Director Frank Hurst Lin sold 94,413 shares of the company's stock in a transaction on 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 of the company's stock, valued at $155,241,560.82. The transaction was disclosed in his SEC filing, which is available at this link. In related news, COO Xinyan Hao sold 1,088 shares of his 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 of the company's stock, valued at $37,178,792.32. The sale was disclosed in a document filed with the Securities and Exchange Commission, available at this link. Also, Director Frank Hearst Lin sold 94,413 shares of his 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 will now own 5,669,889 shares of the company's stock, valued at $155,241,560.82. Disclosures regarding this sale can be found here. Insiders sold 269,287 shares of company stock valued at $7,800,805 in the past quarter. 45.30% of the stock is owned by company insiders.
Institutional investors pay attention to GigaCloud technology
Several large investors have recently bought and sold shares in the company. CWM LLC acquired a new position in GigaCloud Technology during the 4th quarter valued at $30,000. Quarry LP acquired a new stake in shares of his GigaCloud Technology in the 4th quarter valued at approximately $47,000. Wyoming acquired a new stake in his GigaCloud Technology stock in the 2nd quarter worth about $27,000. Morgan Stanley acquired a new stake in shares of GigaCloud Technology during the 4th quarter valued at approximately $25,000. Finally, Royal Bank of Canada acquired a new stake in shares of His GigaCloud Technology during the 4th quarter valued at approximately $108,000. Institutional investors own 34.94% of the company's stock.
About Giga Cloud Technology
(Get Free Report)
GigaCloud Technology Inc provides end-to-end B2B e-commerce solutions for large package items. Its marketplace connects primarily Asian manufacturers with resellers in the U.S., Asia, and Europe to execute cross-border transactions across furniture, home appliances, fitness equipment, and other large package categories.
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