Nations Financial Group Inc. IA ADV Cuts Holdings in GigaCloud Technology Inc. (NASDAQ:GCT)

Nations Financial Group Inc. IA ADV trimmed its position in GigaCloud Technology Inc. (NASDAQ:GCT) by 49.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 22,678 shares of the company’s stock after selling 22,312 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in GigaCloud Technology were worth $521,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. WT Asset Management Ltd purchased a new stake in shares of GigaCloud Technology during the third quarter valued at approximately $2,804,000. Aptus Capital Advisors LLC purchased a new stake in shares of GigaCloud Technology during the 2nd quarter valued at $2,663,000. Second Line Capital LLC bought a new stake in shares of GigaCloud Technology during the 2nd quarter worth $2,660,000. Bank of New York Mellon Corp purchased a new position in shares of GigaCloud Technology in the 2nd quarter worth about $2,000,000. Finally, Tidal Investments LLC bought a new position in GigaCloud Technology during the first quarter valued at about $1,731,000. Institutional investors own 34.94% of the company’s stock.

Analyst Ratings Changes

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

GigaCloud Technology Stock Performance

Shares of GigaCloud Technology stock opened at $21.62 on Thursday. The stock has a market capitalization of $894.20 million, a P/E ratio of 6.84 and a beta of 1.78. GigaCloud Technology Inc. has a 52-week low of $8.70 and a 52-week high of $45.18. The stock’s 50-day simple moving average is $22.61 and its 200 day simple moving average is $26.96.

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.