The stock of GigaCloud Technology Inc. (NASDAQ:GCT) last traded at $12.21, down -7.85% from the previous session.
GCT stock price is now 17.76% away from the 50-day moving average and 73.09% away from the 200-day moving average. The market capitalization of the company currently stands at $450.43M.
With the price target of $13, ROTH MKM recently initiated with Buy rating for GigaCloud Technology Inc. (NASDAQ: GCT).
A total of 52.32% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GCT stock. A new stake in GigaCloud Technology Inc. shares was purchased by BOSTON PARTNERS during the first quarter worth $1,834,000. XTX TOPCO LTD invested $500,000 in shares of GCT during the first quarter. In the first quarter, QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in GigaCloud Technology Inc. valued at approximately $239,000. VIRTU FINANCIAL LLC acquired a new stake in GCT for approximately $146,000. BANQUE CANTONALE VAUDOISE purchased a new stake in GCT valued at around $110,000 in the second quarter. In total, there are 12 active investors with 25.60% ownership of the company’s stock.
With an opening price of $13.11 on Wednesday morning, GigaCloud Technology Inc. (NASDAQ: GCT) set off the trading day. During the past 12 months, GigaCloud Technology Inc. has had a low of $4.14 and a high of $19.50. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 2.60, and a quick ratio of 1.90. The fifty day moving average price for GCT is $10.47 and a two-hundred day moving average price translates $7.09 for the stock.
The latest earnings results from GigaCloud Technology Inc. (NASDAQ: GCT) was released for Jun, 2023. According to the Software – Infrastructure Company, earnings per share came in at $0.45, beating analysts’ expectations of $0.37 by 0.08. This compares to $0.38 EPS in the same period last year. The net profit margin was 7.30% and return on equity was 19.10% for GCT. The company reported revenue of $153.13 million for the quarter, compared to $124.03 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 23.47 percent. For the current quarter, analysts expect GCT to generate $164.5M in revenue.
GigaCloud Technology Inc.(GCT) Company Profile
GigaCloud Technology Inc. provides end-to-end B2B ecommerce solutions for large parcel merchandise. 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. The company was formerly known as Oriental Standard Human Resources Holdings Limited and changed its name to GigaCloud Technology Inc. in February 2021. GigaCloud Technology Inc. was founded in 2006 and is headquartered in Walnut, California.
