GigaCloud Technology Inc (NASDAQ: GCT) is 18.83% higher on its value in year-to-date trading and has touched a low of $6.71 and a high of $45.18 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The GCT stock was last observed hovering at around $19.63 in the last trading session, with the day’s gains setting it 2.11%.
Currently trading at $21.74, the stock is 17.56% and -3.21% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.16 million and changing 10.75% at the moment leaves the stock -21.37% off its SMA200. GCT registered 129.08% gain for a year compared to 6-month loss of -16.90%. The firm has a 50-day simple moving average (SMA 50) of $22.307 and a 200-day simple moving average (SMA200) of $27.689026.
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The stock witnessed a 4.47% gain in the last 1 month and extending the period to 3 months gives it a -27.82%, and is 11.89% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.68% over the week and 7.17% over the month.
GigaCloud Technology Inc (GCT) has around 1362 employees, a market worth around $893.30M and $984.85M in sales. Current P/E ratio is 7.83 and Fwd P/E is 5.33. Profit margin for the company is 11.57%. Distance from 52-week low is 223.99% and -51.88% from its 52-week high. The company has generated returns on investments over the last 12 months (14.26%).
GigaCloud Technology Inc quarterly earnings per share for the current quarter are estimated at 0.67 with sales reaching $279.57M over the same period.The EPS is expected to grow by 39.67% this year, but quarterly earnings will post 58.30% year-over-year. Quarterly sales are estimated to grow 56.90% in year-over-year returns.
178.0 institutions hold shares in GigaCloud Technology Inc (GCT), with institutional investors hold 43.94% of the company’s shares. The shares outstanding are 31.46M, and float is at 21.50M with Short Float at 27.16%. Institutions hold 38.17% of the Float.
The top institutional shareholder in the company is BLACKROCK INC. with over 1.2 million shares valued at $36.64 million. The investor’s holdings represent 2.9531 of the GCT Shares outstanding. As of 2024-06-30, the second largest holder is SUSQUEHANNA INTERNATIONAL GROUP, LLP with 0.83 million shares valued at $25.23 million to account for 2.0332 of the shares outstanding. The other top investors are MORGAN STANLEY which holds 0.7 million shares representing 1.7219 and valued at over $21.36 million, while CITADEL ADVISORS LLC holds 1.6208 of the shares totaling 0.66 million with a market value of $20.11 million.
GigaCloud Technology Inc (GCT) Insider Activity
The most recent transaction is an insider sale by Lin Frank Hurst, the company’s Director. SEC filings show that Lin Frank Hurst sold 149,693 shares of the company’s common stock on Jun 28 ’24 at a price of $30.19 per share for a total of $4.52 million. Following the sale, the insider now owns 4.07 million shares.
GigaCloud Technology Inc disclosed in a document filed with the SEC on Jun 27 ’24 that SCHROCK IMAN AJ (President) sold a total of 5,000 shares of the company’s common stock. The trade occurred on Jun 27 ’24 and was made at $30.21 per share for $0.15 million. Following the transaction, the insider now directly holds 25000.0 shares of the GCT stock.
Still, SEC filings show that on Jun 26 ’24, Lin Frank Hurst (Director) disposed off 134,559 shares at an average price of $29.99 for $4.04 million. The insider now directly holds 4,312,793 shares of GigaCloud Technology Inc (GCT).
