9,250 Shares in GigaCloud Technology Inc. (NASDAQ:GCT) Bought by Balboa Wealth Partners

Balboa Wealth Partners purchased a new stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,250 shares of the company’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amalgamated Bank purchased a new position in shares of GigaCloud Technology in the second quarter worth $25,000. MFA Wealth Advisors LLC purchased a new position in shares of GigaCloud Technology in the third quarter valued at about $26,000. New York State Teachers Retirement System purchased a new position in shares of GigaCloud Technology in the third quarter valued at about $49,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of GigaCloud Technology during the second quarter valued at about $66,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of GigaCloud Technology during the second quarter worth about $259,000. 34.94% of the stock is owned by institutional investors.

GigaCloud Technology Price Performance

Shares of NASDAQ GCT opened at $20.86 on Friday. GigaCloud Technology Inc. has a 1 year low of $8.70 and a 1 year high of $45.18. The stock has a market capitalization of $862.83 million, a P/E ratio of 6.60 and a beta of 1.78. The company’s 50-day moving average is $22.65 and its 200 day moving average is $26.92.

Analyst Ratings Changes

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

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.