GigaCloud Technology Inc. (NASDAQ:GCT) Stake Boosted by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise lifted its stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT) by 345.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,286 shares of the company’s stock after purchasing an additional 5,651 shares during the quarter. Banque Cantonale Vaudoise’s holdings in GigaCloud Technology were worth $167,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Amalgamated Bank acquired a new stake in GigaCloud Technology in the second quarter worth $25,000. MFA Wealth Advisors LLC bought a new position in shares of GigaCloud Technology during the third quarter worth about $26,000. New York State Teachers Retirement System acquired a new stake in shares of GigaCloud Technology in the 3rd quarter worth about $49,000. Benjamin F. Edwards & Company Inc. bought a new stake in GigaCloud Technology in the 2nd quarter valued at about $66,000. Finally, Creative Planning acquired a new position in GigaCloud Technology during the 3rd quarter valued at about $207,000. Institutional investors and hedge funds own 34.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GCT. Aegis raised GigaCloud Technology to a “strong-buy” rating in a report on Wednesday, August 14th. Lake Street Capital started coverage on GigaCloud Technology in a research report on Monday, July 29th. They set a “buy” rating and a $50.00 price target for the company.

GigaCloud Technology Price Performance

GigaCloud Technology stock opened at $25.50 on Friday. GigaCloud Technology Inc. has a 12-month low of $8.70 and a 12-month high of $45.18. The stock has a market capitalization of $1.04 billion, a PE ratio of 8.18 and a beta of 1.78. The firm has a 50 day simple moving average of $23.16 and a 200-day simple moving average of $26.54.

GigaCloud Technology 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.