The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. GigaCloud Technology Inc shares valued at $5,600,807 were sold by Lin Frank Hurst on May 17 ’24. At $37.37 per share, Lin Frank Hurst sold 149,864 shares. The insider’s holdings dropped to 5,245,067 shares worth approximately $169.63 million following the completion of this transaction.
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Also, Wu Lei sold 14,190 shares, netting a total of over 523,325 in proceeds. Following the sale of shares at $36.88 each, the insider now holds 100,000 shares.
Before that, Lin Frank Hurst had sold 40,134 shares from its account. In a trade valued at $1,453,206, the Director traded GigaCloud Technology Inc shares for $36.21 each. Upon closing the transaction, the insider’s holdings decreased to 40,134 shares, worth approximately $174.47 million.
As published in their initiating research note from Maxim Group on May 22, 2024, GigaCloud Technology Inc [GCT] has been a Buy and the price target has been revised to $69. Analysts at ROTH MKM started covering the stock with ‘”a Buy”‘ outlook in a report released in mid June. As of October 03, 2022, Aegis Capital has initiated its “Buy” rating for GCT.
Analyzing GCT Stock Performance
During the last five days, there has been a surge of approximately 1.13%. Over the course of the year, GigaCloud Technology Inc shares have jumped approximately 76.77%. Shares of the company reached a 52-week high of $45.18 on 03/15/24 and a 52-week low of $17.41 on 01/03/24. A 50-day SMA is recorded $34.10, while a 200-day SMA reached $22.40. Nevertheless, trading volume fell to 1.45 million shares from 1.83 million shares the previous day.
Support And Resistance Levels for GigaCloud Technology Inc (GCT)
According to the 24-hour chart, there is a support level at 31.67, which, if violated, would cause prices to drop to 31.00. In the upper region, resistance lies at 33.39. The next price resistance is at 34.43. RSI (Relative Strength Index) is 48.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.79, which suggests the price will decrease in the coming days. Percent R is at 39.77%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
