GigaCloud Technology (NASDAQ:GCT) Shares Gap Up to $26.16

GigaCloud Technology Inc. (NASDAQ:GCT) gapped up prior to trading on Thursday . The stock had previously closed at $26.16, but opened at $28.00. GigaCloud Technology shares last traded at $28.32, with a volume of 665,457 shares.

Wall Street Analyst Weigh In

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

GigaCloud Technology Stock Performance

The firm’s 50 day simple moving average is $30.21 and its 200-day simple moving average is $18.60. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 12.11 and a beta of 2.40.

Insider Activity at GigaCloud Technology

In other GigaCloud Technology news, COO Xinyan Hao sold 1,088 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $32.36, for a total transaction of $35,207.68. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Frank Hurst Lin sold 133,097 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $30.38, for a total value of $4,043,486.86. Following the completion of the transaction, the director now directly owns 5,764,302 shares of the company’s stock, valued at $175,119,494.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Xinyan Hao sold 1,088 shares of the company’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 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 $37,178,792.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,804 shares of company stock worth $4,158,574. Company insiders own 45.30% of the company’s stock.

Institutional Investors Weigh In On GigaCloud Technology

Large investors have recently modified their holdings of the company. CWM LLC purchased a new position in GigaCloud Technology in the fourth quarter worth $30,000. Quarry LP purchased a new stake in GigaCloud Technology in the 4th quarter valued at about $47,000. State of Wyoming purchased a new stake in GigaCloud Technology in the 2nd quarter valued at about $27,000. Morgan Stanley purchased a new stake in shares of GigaCloud Technology during the 4th quarter worth about $25,000. Finally, Royal Bank of Canada purchased a new stake in shares of GigaCloud Technology during the 4th quarter worth about $108,000. 34.94% of the stock is owned by institutional investors and hedge funds.

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.