In a filing, GigaCloud Technology Inc revealed its Chief Executive Officer Wu Lei unloaded Company’s shares for reported $1.49 million on May 02 ’24. In the deal valued at $33.86 per share,44,000 shares were sold. As a result of this transaction, Wu Lei now holds 621,816 shares worth roughly $25.56 million.
Then, Wu Lei sold 44,000 shares, generating $1,388,250 in total proceeds. Upon selling the shares at $31.55, the Chief Executive Officer now owns 665,816 shares.
Before that, Wu Lei sold 44,000 shares. GigaCloud Technology Inc shares valued at $1,402,284 were divested by the Chief Executive Officer at a price of $31.87 per share. As a result of the transaction, Wu Lei now holds 709,816 shares, worth roughly $29.18 million.
ROTH MKM initiated its GigaCloud Technology Inc [GCT] rating to a Buy in a research note published on June 16, 2023; the price target was $13. A number of analysts have revised their coverage, including Aegis Capital’s analysts, who began to cover the stock in early October with a ‘”a Buy”‘ rating.
Price Performance Review of GCT
On Monday, GigaCloud Technology Inc [NASDAQ:GCT] saw its stock jump 10.30% to $41.11. Over the last five days, the stock has gained 20.98%. GigaCloud Technology Inc shares have risen nearly 124.71% since the year began. Nevertheless, the stocks have risen 681.56% over the past one year. While a 52-week high of $45.18 was reached on 03/15/24, a 52-week low of $4.97 was recorded on 01/03/24. SMA at 50 days reached $33.97, while 200 days put it at $19.36. A total of 3.57 million shares were traded, compared to the trading of 2.33 million shares in the previous session.
Levels Of Support And Resistance For GCT Stock
The 24-hour chart illustrates a support level at 38.84, which if violated will result in even more drops to 36.56. On the upside, there is a resistance level at 42.35. A further resistance level may holdings at 43.58. The Relative Strength Index (RSI) on the 14-day chart is 63.51, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.05, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 1.89%. Stochastics %K at 74.05% indicates the stock is a holding.
