Segall Bryant & Hamill LLC bought a new stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 67,726 shares of the company's stock, valued at approximately $1,556,000. Segall Bryant & Hamill LLC owned about 0.16% of GigaCloud Technology at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise increased its position in GigaCloud Technology by 345.6% in the 3rd quarter. Banque Cantonale Vaudoise now owns 7,286 shares of the company's stock valued at $167,000 after acquiring an additional 5,651 shares during the period. Empowered Funds LLC boosted its stake in shares of GigaCloud Technology by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 185,490 shares of the company's stock worth $4,263,000 after acquiring an additional 9,380 shares in the last quarter. Balboa Wealth Partners acquired a new position in shares of GigaCloud Technology in the 3rd quarter valued at $213,000. Aptus Capital Advisors LLC increased its position in shares of GigaCloud Technology by 17.2% in the third quarter. Aptus Capital Advisors LLC now owns 102,580 shares of the company's stock worth $2,357,000 after acquiring an additional 15,028 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of GigaCloud Technology during the third quarter valued at approximately $1,442,000. 34.94% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms recently commented on GCT. Lake Street Capital assumed coverage on shares of GigaCloud Technology in a research note on Monday, July 29th. They issued a "buy" rating and a $50.00 price objective for the company. Aegis raised GigaCloud Technology to a "strong-buy" rating in a research report on Wednesday, August 14th.
Read Our Latest Research Report on GCT
GigaCloud Technology Stock Performance
Shares of NASDAQ:GCT traded up $1.38 during midday trading on Friday, hitting $25.50. 1,591,372 shares of the stock were exchanged, compared to its average volume of 1,505,739. GigaCloud Technology Inc. has a 52-week low of $8.70 and a 52-week high of $45.18. The business's fifty day simple moving average is $23.33 and its two-hundred day simple moving average is $26.34. The company has a market capitalization of $1.04 billion, a PE ratio of 8.07 and a beta of 1.78.
About GigaCloud Technology
(
Free Report)
GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise in the United States and internationally. The company offers GigaCloud Marketplace integrates product discovery to payments to logistics tools into one easy-to-use platform. Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia, and Europe to execute cross-border transactions across furniture, home appliance, fitness equipment, and other large parcel categories.
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