GigaCloud Technology (NASDAQ:GCT) Shares Up 0.7%

GigaCloud Technology Inc. (NASDAQ:GCTGet Free Report) traded up 0.7% on Wednesday . The company traded as high as $33.76 and last traded at $33.16. 507,909 shares traded hands during trading, a decline of 83% from the average session volume of 2,952,959 shares. The stock had previously closed at $32.92.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Roth Mkm increased their target price on GigaCloud Technology from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Maxim Group assumed coverage on GigaCloud Technology in a report on Wednesday, May 22nd. They set a “buy” rating and a $69.00 price objective on the stock.

Check Out Our Latest Analysis on GCT

GigaCloud Technology Stock Down 0.9 %

The stock has a market capitalization of $1.33 billion, a PE ratio of 12.90 and a beta of 1.87. The company’s fifty day moving average price is $34.10 and its 200-day moving average price is $27.82.

GigaCloud Technology (NASDAQ:GCTGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.33. GigaCloud Technology had a net margin of 12.74% and a return on equity of 41.24%. The company had revenue of $251.08 million during the quarter, compared to analyst estimates of $235.00 million. During the same period in the previous year, the business earned $0.39 EPS. Equities research analysts anticipate that GigaCloud Technology Inc. will post 3.25 earnings per share for the current year.

Insider Activity

In related news, CEO Lei Wu sold 1,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $29.53, for a total value of $29,530.00. Following the completion of the transaction, the chief executive officer now owns 1,248,994 shares of the company’s stock, valued at approximately $36,882,792.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Lei Wu sold 1,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $29.53, for a total value of $29,530.00. Following the completion of the transaction, the chief executive officer now owns 1,248,994 shares of the company’s stock, valued at approximately $36,882,792.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Xinyan Hao sold 1,088 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $32.36, for a total transaction of $35,207.68. Following the completion of the transaction, the chief operating officer now directly owns 1,148,912 shares of the company’s stock, valued at approximately $37,178,792.32. The disclosure for this sale can be found here. Insiders sold a total of 1,453,279 shares of company stock valued at $49,256,053 in the last 90 days. Company insiders own 43.00% of the company’s stock.

Hedge Funds Weigh In On GigaCloud Technology

A number of hedge funds have recently added to or reduced their stakes in GCT. PAX Financial Group LLC bought a new position in shares of GigaCloud Technology during the third quarter valued at approximately $141,000. Acadian Asset Management LLC acquired a new stake in GigaCloud Technology in the third quarter valued at approximately $9,634,000. Ritholtz Wealth Management acquired a new stake in GigaCloud Technology in the fourth quarter valued at approximately $295,000. Avantax Advisory Services Inc. acquired a new stake in GigaCloud Technology in the fourth quarter valued at approximately $226,000. Finally, WINTON GROUP Ltd acquired a new stake in GigaCloud Technology in the third quarter valued at approximately $258,000. 34.94% of the stock is currently owned by institutional investors.

GigaCloud Technology Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for GigaCloud Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GigaCloud Technology and related companies with MarketBeat.com's FREE daily email newsletter.