GigaCloud Technology Inc’s recently made public that its Director Lin Frank Hurst unloaded Company’s shares for reported $4.52 million on Jun 28 ’24. In the deal valued at $30.19 per share,149,693 shares were sold. As a result of this transaction, Lin Frank Hurst now holds 4,069,889 shares worth roughly $92.43 million.
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Then, SCHROCK IMAN AJ sold 5,000 shares, generating $151,061 in total proceeds. Upon selling the shares at $30.21, the President now owns 25,000 shares.
Before that, Lin Frank Hurst sold 134,559 shares. GigaCloud Technology Inc shares valued at $4,035,073 were divested by the Director at a price of $29.99 per share. As a result of the transaction, Lin Frank Hurst now holds 4,312,793 shares, worth roughly $97.94 million.
Lake Street initiated its GigaCloud Technology Inc [GCT] rating to a Buy in a research note published on July 29, 2024; the price target was $50. A number of analysts have revised their coverage, including Maxim Group’s analysts, who began to cover the stock in late May with a ‘”a Buy”‘ rating. ROTH MKM began covering GCT with “Buy” recommendation on June 16, 2023. Aegis Capital started covering the stock on October 03, 2022. It rated GCT as “a Buy”.
Price Performance Review of GCT
On Friday, GigaCloud Technology Inc [NASDAQ:GCT] saw its stock fall -0.26% to $22.71. Over the last five days, the stock has lost -6.04%. GigaCloud Technology Inc shares have risen nearly 24.13% since the year began. Nevertheless, the stocks have risen 128.93% over the past one year. While a 52-week high of $45.18 was reached on 03/15/24, a 52-week low of $8.28 was recorded on 09/16/24. SMA at 50 days reached $22.08, while 200 days put it at $28.58.
Levels Of Support And Resistance For GCT Stock
The 24-hour chart illustrates a support level at 22.42, which if violated will result in even more drops to 22.12. On the upside, there is a resistance level at 23.29. A further resistance level may holdings at 23.86. The Relative Strength Index (RSI) on the 14-day chart is 44.96, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.31, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 99.78%. Stochastics %K at 12.11% indicates the stock is a buying.
How much short interest is there in GigaCloud Technology Inc?
A steep rise in short interest was recorded in GigaCloud Technology Inc stocks on 2024-10-15, growing by 1.12 million shares to a total of 6.96 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 5.84 million shares. There was a rise of 16.11%, which implies that there is a positive sentiment for the stock.
