Aptus Capital Advisors LLC Has $2.36 Million Stock Holdings in GigaCloud Technology Inc. (NASDAQ:GCT)

Aptus Capital Advisors LLC grew its holdings in GigaCloud Technology Inc. (NASDAQ:GCT) by 17.2% in the 3rd quarter, Holdings Channel reports. The fund owned 102,580 shares of the company’s stock after purchasing an additional 15,028 shares during the quarter. Aptus Capital Advisors LLC’s holdings in GigaCloud Technology were worth $2,357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. WT Asset Management Ltd bought a new stake in shares of GigaCloud Technology in the third quarter valued at approximately $2,804,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in GigaCloud Technology by 60.4% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 91,125 shares of the company’s stock worth $2,772,000 after purchasing an additional 34,318 shares during the period. Second Line Capital LLC bought a new position in GigaCloud Technology in the second quarter worth $2,660,000. Bank of New York Mellon Corp bought a new position in GigaCloud Technology in the second quarter worth $2,000,000. Finally, Tidal Investments LLC bought a new position in GigaCloud Technology in the first quarter worth $1,731,000. 34.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GCT. Lake Street Capital began coverage on GigaCloud Technology in a research report on Monday, July 29th. They issued a “buy” rating and a $50.00 target price for the company. Aegis raised GigaCloud Technology to a “strong-buy” rating in a research report on Wednesday, August 14th.

GigaCloud Technology Stock Performance

Shares of NASDAQ GCT opened at $21.62 on Thursday. The stock has a market cap of $894.20 million, a PE ratio of 6.84 and a beta of 1.78. The business has a fifty day moving average of $22.61 and a two-hundred day moving average of $26.96. GigaCloud Technology Inc. has a 52-week low of $8.70 and a 52-week high of $45.18.

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.