GigaCloud Technology Inc. (NASDAQ:GCT) Position Increased by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC raised its position in shares of GigaCloud Technology Inc. (NASDAQ:GCT) by 17.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,580 shares of the company’s stock after buying an additional 15,028 shares during the quarter. Aptus Capital Advisors LLC owned 0.25% of GigaCloud Technology worth $2,357,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. purchased a new stake in GigaCloud Technology during the third quarter valued at about $1,442,000. WT Asset Management Ltd acquired a new position in GigaCloud Technology in the third quarter worth approximately $2,804,000. New York State Teachers Retirement System acquired a new position in GigaCloud Technology in the third quarter worth approximately $49,000. PFG Investments LLC acquired a new position in GigaCloud Technology in the third quarter worth approximately $229,000. Finally, International Assets Investment Management LLC acquired a new position in GigaCloud Technology in the third quarter worth approximately $1,083,000. 34.94% of the stock is owned by hedge funds and other institutional investors.

GigaCloud Technology Stock Down 7.7 %

Shares of GCT stock opened at $21.62 on Thursday. GigaCloud Technology Inc. has a 12 month low of $8.70 and a 12 month high of $45.18. The business’s 50 day moving average is $22.61 and its two-hundred day moving average is $26.96. The company has a market cap of $894.20 million, a PE ratio of 6.84 and a beta of 1.78.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GCT shares. Aegis upgraded GigaCloud Technology to a “strong-buy” rating in a report on Wednesday, August 14th. Lake Street Capital started coverage on GigaCloud Technology in a report on Monday, July 29th. They issued a “buy” rating and a $50.00 price objective on the stock.

About GigaCloud Technology

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.