Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. GigaCloud Technology Inc shares valued at $3,243,000 were purchased by Dongsi Tou Tiao Limited Truste on Nov 15 ’24. At $21.62 per share, Dongsi Tou Tiao Limited Truste acquired 150,000 shares.
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Also, LAU DAVID KWOK HEI purchased 10,000 shares, netting a total of over 280,000 in proceeds.
Before that, Lin Frank Hurst had sold 149,693 shares from its account. In a trade valued at $4,518,733, the Director traded GigaCloud Technology Inc shares for $30.19 each. Upon closing the transaction, the insider’s holdings decreased to 149,693 shares, worth approximately $94.67 million.
As published in their initiating research note from Lake Street on July 29, 2024, GigaCloud Technology Inc [GCT] has been a Buy and the price target has been revised to $50. Analysts at Maxim Group started covering the stock with ‘”a Buy”‘ outlook in a report released in late May. As of June 16, 2023, ROTH MKM has initiated its “Buy” rating for GCT. Earlier on October 03, 2022, Aegis Capital initiated its rating. Their recommendation was “a Buy” for GCT stock.
Analyzing GCT Stock Performance
During the last five days, there has been a surge of approximately 7.59%. Over the course of the year, GigaCloud Technology Inc shares have jumped approximately 27.14%. Shares of the company reached a 52-week high of $45.18 on 03/15/24 and a 52-week low of $15.61 on 09/16/24. A 50-day SMA is recorded $23.02, while a 200-day SMA reached $28.56. Nevertheless, trading volume fell to 1.28 million shares from 2.31 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 22.35, which, if violated, would cause prices to drop to 21.43. In the upper region, resistance lies at 24.74. The next price resistance is at 26.21. RSI (Relative Strength Index) is 49.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.07, which suggests the price will decrease in the coming days. Percent R is at 65.71%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
