GigaCloud Technology (NASDAQ:GCT) Price Target Increased to $35.00 by Analysts at Roth Mkm

GigaCloud Technology (NASDAQ:GCTGet Free Report) had its price objective increased by Roth Mkm from $28.00 to $35.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s target price would indicate a potential upside of 9.58% from the stock’s current price.

GigaCloud Technology Stock Up 3.7 %

Shares of GigaCloud Technology stock traded up $1.15 during mid-day trading on Tuesday, reaching $31.94. 1,301,317 shares of the stock traded hands, compared to its average volume of 3,123,914. The business has a 50-day moving average of $30.64 and a 200 day moving average of $18.93. GigaCloud Technology has a fifty-two week low of $4.93 and a fifty-two week high of $45.18. The stock has a market capitalization of $1.30 billion, a PE ratio of 13.82 and a beta of 2.27.

Insider Buying and Selling at GigaCloud Technology

In other GigaCloud Technology news, 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 transaction of $4,089,000.00. Following the completion of the transaction, the chief technology officer now owns 947,540 shares of the company’s stock, valued at $25,829,940.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Frank Hurst Lin sold 94,413 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $27.38, for a total value of $2,585,027.94. Following the completion of the sale, the director now owns 5,669,889 shares of the company’s stock, valued at $155,241,560.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Xin Wan sold 150,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $27.26, for a total value of $4,089,000.00. Following the completion of the sale, the chief technology officer now directly owns 947,540 shares of the company’s stock, valued at approximately $25,829,940.40. The disclosure for this sale can be found here. Insiders sold 419,287 shares of company stock valued at $11,889,805 over the last quarter.

Institutional Investors Weigh In On GigaCloud Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC purchased a new position in shares of GigaCloud Technology during the fourth quarter worth $30,000. Quarry LP purchased a new position in shares of GigaCloud Technology during the fourth quarter worth $47,000. State of Wyoming purchased a new position in shares of GigaCloud Technology during the second quarter worth $27,000. Morgan Stanley purchased a new position in shares of GigaCloud Technology during the fourth quarter worth $25,000. Finally, Royal Bank of Canada purchased a new position in GigaCloud Technology in the fourth quarter valued at $108,000. Institutional investors and hedge funds own 34.94% of the company’s stock.

About GigaCloud Technology

(Get Free Report)

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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