67,726 Shares in GigaCloud Technology Inc. (NASDAQ:GCT) Bought by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC bought a new stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Amalgamated Bank purchased a new position in GigaCloud Technology during the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new position in shares of GigaCloud Technology during the third quarter valued at $26,000. New York State Teachers Retirement System acquired a new position in GigaCloud Technology during the third quarter valued at $49,000. Benjamin F. Edwards & Company Inc. purchased a new stake in GigaCloud Technology in the 2nd quarter worth about $66,000. Finally, Banque Cantonale Vaudoise boosted its position in GigaCloud Technology by 345.6% during the 3rd quarter. Banque Cantonale Vaudoise now owns 7,286 shares of the company’s stock worth $167,000 after acquiring an additional 5,651 shares during the period. Institutional investors and hedge funds own 34.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GCT. Lake Street Capital assumed coverage on GigaCloud Technology in a report on Monday, July 29th. They issued a “buy” rating and a $50.00 target price on the stock. Aegis upgraded shares of GigaCloud Technology to a “strong-buy” rating in a research report on Wednesday, August 14th.

GigaCloud Technology Price Performance

Shares of GCT stock opened at $25.50 on Friday. GigaCloud Technology Inc. has a fifty-two week low of $8.70 and a fifty-two week high of $45.18. The stock’s 50-day moving average is $23.33 and its two-hundred day moving average is $26.43. The firm has a market cap of $1.04 billion, a P/E ratio of 8.07 and a beta of 1.78.

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.