GigaCloud Technology (NASDAQ:GCT) Sees Strong Trading Volume

GigaCloud Technology Inc. (NASDAQ:GCTGet Free Report) shares saw an uptick in trading volume on Friday . 3,463,153 shares were traded during mid-day trading, an increase of 21% from the previous session’s volume of 2,870,227 shares.The stock last traded at $39.26 and had previously closed at $34.99.

Analysts Set New Price Targets

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

View Our Latest Stock Report on GCT

GigaCloud Technology Stock Performance

The stock’s 50 day moving average price is $29.04 and its 200 day moving average price is $17.78. The company has a market capitalization of $1.76 billion, a P/E ratio of 24.80 and a beta of 2.40.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. CWM LLC acquired a new stake in GigaCloud Technology during the fourth quarter worth approximately $30,000. Quarry LP bought a new stake in shares of GigaCloud Technology in the 4th quarter valued at $47,000. State of Wyoming acquired a new position in shares of GigaCloud Technology during the 2nd quarter valued at $27,000. Morgan Stanley bought a new position in GigaCloud Technology during the fourth quarter worth $25,000. Finally, Royal Bank of Canada acquired a new stake in GigaCloud Technology in the fourth quarter worth $108,000. 21.21% of the stock is owned by institutional investors.

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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