GigaCloud Technology Inc’s filing revealed that its Officer Dongsi Tou Tiao Limited Truste acquired Company’s shares for reported $3.24 million on Nov 15 ’24. In the deal valued at $21.62 per share,150,000 shares were bought.
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Then, LAU DAVID KWOK HEI bought 10,000 shares, generating $280,000 in total proceeds.
Before that, Lin Frank Hurst sold 149,693 shares. GigaCloud Technology Inc shares valued at $4,518,733 were divested by the Director at a price of $30.19 per share. As a result of the transaction, Lin Frank Hurst now holds 4,069,889 shares, worth roughly $84.9 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 jump 0.29% to $20.86. Over the last five days, the stock has lost -25.31%. GigaCloud Technology Inc shares have risen nearly 14.02% since the year began. Nevertheless, the stocks have risen 114.83% over the past one year. While a 52-week high of $45.18 was reached on 03/15/24, a 52-week low of $8.70 was recorded on 09/16/24. SMA at 50 days reached $22.73, while 200 days put it at $28.62.
Levels Of Support And Resistance For GCT Stock
The 24-hour chart illustrates a support level at 20.26, which if violated will result in even more drops to 19.66. On the upside, there is a resistance level at 21.36. A further resistance level may holdings at 21.86. The Relative Strength Index (RSI) on the 14-day chart is 41.70, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.26%. Stochastics %K at 6.65% 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 2024-10-31, dropping by -0.58 million shares to a total of 6.32 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 6.9 million shares. There was a decline of -9.19%, which implies that there is a negative sentiment for the stock.
