GigaCloud Technology (NASDAQ:GCT) Trading Up 4.8% – Should You Buy?

Shares of GigaCloud Technology Inc. (NASDAQ:GCT) rose 4.8% on Tuesday . The stock traded as high as $21.33 and last traded at $21.30. Approximately 426,662 shares were traded during trading, a decline of 55% from the average daily volume of 938,063 shares. The stock had previously closed at $20.33.

GigaCloud Technology Stock Up 2.1 %

The firm has a market cap of $850.66 million, a PE ratio of 6.54 and a beta of 1.94. The stock has a 50 day moving average price of $20.20 and a two-hundred day moving average price of $22.02.

Insider Buying and Selling

In other GigaCloud Technology news, insider Marshall Bernes purchased 5,000 shares of the stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $17.50 per share, with a total value of $87,500.00. Following the completion of the acquisition, the insider now owns 45,000 shares in the company, valued at $787,500. This trade represents a 12.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Xin Wan sold 68,437 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $20.43, for a total transaction of $1,398,167.91. Following the completion of the sale, the chief technology officer now directly owns 1,563 shares in the company, valued at approximately $31,932.09. The trade was a 97.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,811,979 shares of company stock worth $61,233,745 in the last 90 days. Insiders own 43.00% of the company’s stock.

Institutional Trading of GigaCloud Technology

Several institutional investors have recently bought and sold shares of the business. MFA Wealth Advisors LLC acquired a new position in shares of GigaCloud Technology during the 3rd quarter valued at about $26,000. US Bancorp DE boosted its holdings in GigaCloud Technology by 200.0% in the 4th quarter. US Bancorp DE now owns 1,500 shares of the company’s stock valued at $28,000 after purchasing an additional 1,000 shares during the last quarter. Amundi acquired a new position in GigaCloud Technology in the 4th quarter valued at about $45,000. New York State Teachers Retirement System acquired a new position in shares of GigaCloud Technology in the 3rd quarter valued at $49,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of GigaCloud Technology in the 3rd quarter valued at $51,000. 34.94% of the stock is owned by institutional investors and hedge funds.

About GigaCloud Technology

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.