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 $9,320 were sold by WAN XIN on Dec 18 ’24. At $20.00 per share, WAN XIN sold 466 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, WAN XIN sold 68,437 shares, netting a total of over 1,398,103 in proceeds. Following the sale of shares at $20.43 each, the insider now holds 1,563 shares.
Before that, WAN XIN had sold 1,097 shares from its account. In a trade valued at $21,995, the Chief Technology Officer traded GigaCloud Technology Inc shares for $20.05 each. Upon closing the transaction, the insider’s holdings decreased to 1,097 shares, worth approximately $8257.519999999999.
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 drop of approximately -14.44%. Over the course of the year, GigaCloud Technology Inc shares have dropped approximately -3.14%. 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 $23.47, while a 200-day SMA reached $27.50. Nevertheless, trading volume fell to 1.14 million shares from 0.93 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 17.21, which, if violated, would cause prices to drop to 16.70. In the upper region, resistance lies at 18.74. The next price resistance is at 19.77. RSI (Relative Strength Index) is 31.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.05, which suggests the price will decrease in the coming days. Percent R is at 100.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
