GigaCloud Technology Inc. (NASDAQ:GCT) Short Interest Down 17.8% in January

GigaCloud Technology Inc. (NASDAQ:GCT) was the target of a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 1,899,615 shares, a decrease of 17.8% from the January 15th total of 2,310,141 shares. Based on an average trading volume of 562,910 shares, the days-to-cover ratio is presently 3.4 days. Currently, 6.8% of the company’s shares are sold short. Currently, 6.8% of the company’s shares are sold short. Based on an average trading volume of 562,910 shares, the days-to-cover ratio is presently 3.4 days.

Insider Buying and Selling at GigaCloud Technology

In related news, CEO Lei Wu sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $41.34, for a total value of $826,800.00. Following the transaction, the chief executive officer owned 700,000 shares in the company, valued at $28,938,000. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Xinyan Hao sold 100,000 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $35.18, for a total value of $3,518,000.00. Following the sale, the chief operating officer directly owned 407,486 shares of the company’s stock, valued at $14,335,357.48. This represents a 19.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 301,229 shares of company stock worth $11,539,589 in the last ninety days. 24.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GigaCloud Technology

Large investors have recently modified their holdings of the business. Jones Financial Companies Lllp raised its position in shares of GigaCloud Technology by 184.6% during the third quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock worth $27,000 after purchasing an additional 589 shares during the period. Quarry LP bought a new position in GigaCloud Technology in the third quarter valued at approximately $29,000. Larson Financial Group LLC acquired a new position in shares of GigaCloud Technology in the third quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of GigaCloud Technology during the third quarter worth $30,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of GigaCloud Technology during the fourth quarter worth $44,000. 34.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of GigaCloud Technology from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Zacks Research downgraded GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Finally, Weiss Ratings raised GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, January 27th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, GigaCloud Technology presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

GigaCloud Technology Trading Up 3.3%

Shares of GCT stock traded up $1.12 on Monday, hitting $35.23. The stock had a trading volume of 490,880 shares, compared to its average volume of 515,586. GigaCloud Technology has a twelve month low of $11.17 and a twelve month high of $44.71. The firm has a market cap of $1.31 billion, a P/E ratio of 10.55 and a beta of 2.28. The company has a fifty day moving average price of $39.94 and a two-hundred day moving average price of $33.21.

About GigaCloud Technology

GigaCloud Technology Inc (NASDAQ:GCT) is a China-based provider of software-as-a-service (SaaS) and cloud computing solutions tailored for cross-border e-commerce. The company’s core offering, its Supply Chain Embedded E-commerce as a Service (SCEaaS) platform, integrates procurement, order management, warehousing, logistics and payment services into a unified cloud-based system. This end-to-end digital supply chain solution is designed to help small and medium-sized Chinese exporters efficiently connect with global buyers without the need to build and maintain their own infrastructure.

Through its modular, subscription-based SaaS model, GigaCloud enables merchants to scale operations on demand and minimize upfront capital expenditures.