GigaCloud Technology Inc’s recent filing unveils that its Chief Technology Officer WAN XIN unloaded Company’s shares for reported $1.77 million on Dec 06 ’24. In the deal valued at $22.14 per share,80,000 shares were sold. As a result of this transaction, WAN XIN now holds 867,540 shares worth roughly $20.09 million.
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Then, DCM AFFILIATES FUND IV LP bought 66,046 shares, generating $1,439,803 in total proceeds.
Before that, DCM IV LP bought 2,597,030 shares. GigaCloud Technology Inc shares valued at $56,615,254 were divested by the Director at a price of $21.80 per share.
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 Monday, GigaCloud Technology Inc [NASDAQ:GCT] saw its stock jump 4.32% to $23.16. Over the last five days, the stock has lost -2.03%. GigaCloud Technology Inc shares have risen nearly 26.59% since the year began. Nevertheless, the stocks have risen 72.96% over the past one year. While a 52-week high of $45.18 was reached on 03/15/24, a 52-week low of $12.66 was recorded on 09/16/24. SMA at 50 days reached $24.36, while 200 days put it at $28.16.
Levels Of Support And Resistance For GCT Stock
The 24-hour chart illustrates a support level at 22.44, which if violated will result in even more drops to 21.73. On the upside, there is a resistance level at 24.23. A further resistance level may holdings at 25.31. The Relative Strength Index (RSI) on the 14-day chart is 47.38, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 64.29%. Stochastics %K at 43.78% indicates the stock is a holding.
How much short interest is there in GigaCloud Technology Inc?
A steep rise in short interest was recorded in GigaCloud Technology Inc stocks on 2024-11-15, dropping by -0.45 million shares to a total of 6.51 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 6.96 million shares. There was a decline of -6.87%, which implies that there is a negative sentiment for the stock.
