Quarry LP Increases Stock Holdings in GigaCloud Technology Inc. (NASDAQ:GCT)

Quarry LP boosted its stake in GigaCloud Technology Inc. (NASDAQ:GCT) by 519.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,663 shares of the company’s stock after buying an additional 3,072 shares during the quarter. Quarry LP’s holdings in GigaCloud Technology were worth $84,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Harvest Fund Management Co. Ltd purchased a new position in shares of GigaCloud Technology in the 3rd quarter worth approximately $6,956,000. Charles Schwab Investment Management Inc. boosted its position in GigaCloud Technology by 279.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 214,569 shares of the company’s stock worth $4,931,000 after purchasing an additional 158,033 shares during the last quarter. WT Asset Management Ltd bought a new position in GigaCloud Technology in the 3rd quarter valued at $2,804,000. Aptus Capital Advisors LLC bought a new position in GigaCloud Technology in the 2nd quarter valued at $2,663,000. Finally, Second Line Capital LLC purchased a new stake in shares of GigaCloud Technology during the 2nd quarter valued at $2,660,000. 34.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Aegis raised shares of GigaCloud Technology to a “strong-buy” rating in a report on Wednesday, August 14th.

GigaCloud Technology Trading Down 8.5 %

NASDAQ:GCT opened at $22.20 on Monday. GigaCloud Technology Inc. has a 12 month low of $12.66 and a 12 month high of $45.18. The firm’s 50 day moving average is $24.39 and its 200 day moving average is $25.49. The stock has a market capitalization of $909.53 million, a PE ratio of 7.03 and a beta of 1.74.

GigaCloud Technology Company 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.