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GigaCloud Technology (NASDAQ:GCT) Trading Up 7.6%

Defense World ·  Dec 22, 2022 02:01

GigaCloud Technology Inc. (NASDAQ:GCT – Get Rating)'s stock price was up 7.6% on Wednesday . The stock traded as high as $5.90 and last traded at $5.78. Approximately 92,088 shares changed hands during trading, a decline of 95% from the average daily volume of 2,004,999 shares. The stock had previously closed at $5.37.

Wall Street Analysts Forecast Growth

Separately, Aegis began coverage on GigaCloud Technology in a research note on Monday, October 3rd. They issued a "buy" rating and a $26.00 price target for the company.

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GigaCloud Technology Price Performance

The stock has a 50-day moving average of $5.92.

GigaCloud Technology (NASDAQ:GCT – Get Rating) last released its quarterly earnings data on Friday, September 30th. The company reported $0.15 EPS for the quarter. The company had revenue of $124.03 million during the quarter.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GCT. UBS Group AG acquired a new stake in shares of GigaCloud Technology during the 3rd quarter worth $61,000. Verition Fund Management LLC acquired a new stake in shares of GigaCloud Technology during the 3rd quarter worth $333,000. Finally, Marshall Wace LLP acquired a new stake in shares of GigaCloud Technology during the 3rd quarter worth $1,425,000.

GigaCloud Technology Company Profile

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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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