Trexquant Investment LP Invests $528,000 in GigaCloud Technology Inc. (NASDAQ:GCT)

Trexquant Investment LP bought a new stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 28,851 shares of the company's stock, valued at approximately $528,000. Trexquant Investment LP owned 0.07% of GigaCloud Technology as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. CWM LLC bought a new position in shares of GigaCloud Technology during the 4th quarter valued at approximately $30,000. Foundations Investment Advisors LLC bought a new position in GigaCloud Technology in the 4th quarter worth approximately $207,000. Avantax Advisory Services Inc. bought a new position in GigaCloud Technology in the 4th quarter worth approximately $226,000. PAX Financial Group LLC bought a new position in GigaCloud Technology in the 3rd quarter worth approximately $141,000. Finally, Ritholtz Wealth Management bought a new position in GigaCloud Technology in the 4th quarter worth approximately $295,000. 34.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on GCT shares. Roth Mkm raised their price objective on shares of GigaCloud Technology from $28.00 to $35.00 and gave the stock a "buy" rating in a report on Tuesday, April 2nd. Maxim Group started coverage on shares of GigaCloud Technology in a report on Wednesday, May 22nd. They issued a "buy" rating and a $69.00 price objective for the company.

Insiders Place Their Bets

In other GigaCloud Technology news, Director Frank Hurst Lin sold 40,134 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $36.21, for a total value of $1,453,252.14. Following the sale, the director now directly owns 5,394,931 shares in the company, valued at approximately $195,350,451.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Xinyan Hao sold 1,088 shares of the firm's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $32.36, for a total transaction of $35,207.68. Following the sale, the chief operating officer now owns 1,148,912 shares in the company, valued at approximately $37,178,792.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank Hurst Lin sold 40,134 shares of the firm's stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $36.21, for a total transaction of $1,453,252.14. Following the sale, the director now owns 5,394,931 shares in the company, valued at approximately $195,350,451.51. The disclosure for this sale can be found here. Insiders have sold 1,453,279 shares of company stock worth $49,256,053 in the last three months. 43.00% of the stock is currently owned by corporate insiders.

GigaCloud Technology Stock Performance

NASDAQ GCT traded up $0.87 on Friday, hitting $31.14. The stock had a trading volume of 1,535,192 shares, compared to its average volume of 3,045,206. GigaCloud Technology Inc. has a 52-week low of $6.31 and a 52-week high of $45.18. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.12 and a beta of 1.99. The firm has a 50-day moving average of $33.61 and a 200-day moving average of $26.61.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last posted its earnings results on Thursday, May 9th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.33. GigaCloud Technology had a net margin of 12.74% and a return on equity of 41.24%. The business had revenue of $251.08 million for the quarter, compared to analysts' expectations of $235.00 million. During the same period in the prior year, the company posted $0.39 EPS. As a group, research analysts anticipate that GigaCloud Technology Inc. will post 3.25 earnings per share for the current fiscal year.

GigaCloud Technology Company Profile

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.