Shares of GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $29.83, but opened at $31.00. GigaCloud Technology shares last traded at $31.12, with a volume of 1,116,993 shares traded.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Roth Mkm boosted their price target on shares of GigaCloud Technology from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Maxim Group initiated coverage on GigaCloud Technology in a research report on Wednesday. They set a “buy” rating and a $69.00 target price on the stock.
Get Our Latest Stock Report on GigaCloud Technology
GigaCloud Technology Stock Up 0.6 %
The firm has a 50-day simple moving average of $33.49 and a 200 day simple moving average of $25.74. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 12.67 and a beta of 1.99.
GigaCloud Technology (NASDAQ:GCT – Get Free Report) last posted its quarterly earnings results 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 business had revenue of $251.08 million for the quarter, compared to analysts’ expectations of $235.00 million. During the same period in the prior year, the company posted $0.39 EPS. As a group, research analysts expect that GigaCloud Technology Inc. will post 3.25 EPS for the current year.
Insiders Place Their Bets
In other GigaCloud Technology news, CEO Lei Wu sold 14,188 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $36.06, for a total transaction of $511,619.28. Following the transaction, the chief executive officer now owns 114,190 shares of the company’s stock, valued at approximately $4,117,691.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Lei Wu sold 14,188 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $36.06, for a total transaction of $511,619.28. Following the sale, the chief executive officer now directly owns 114,190 shares of the company’s stock, valued at approximately $4,117,691.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David Kwok Hei Lau sold 2,619 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $30.50, for a total value of $79,879.50. Following the transaction, the chief financial officer now owns 27,803 shares of the company’s stock, valued at approximately $847,991.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,453,279 shares of company stock valued at $49,256,053. Corporate insiders own 43.00% of the company’s stock.
Institutional Investors Weigh In On GigaCloud Technology
Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC acquired a new stake in shares of GigaCloud Technology in the fourth quarter valued at $30,000. Quarry LP acquired a new stake in GigaCloud Technology during the fourth quarter valued at approximately $47,000. Tucker Asset Management LLC boosted its stake in shares of GigaCloud Technology by 1,499.8% during the 4th quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock worth $146,000 after acquiring an additional 7,499 shares in the last quarter. Foundations Investment Advisors LLC acquired a new position in shares of GigaCloud Technology in the 4th quarter worth $207,000. Finally, Truvestments Capital LLC acquired a new stake in shares of GigaCloud Technology during the first quarter worth $327,000. 34.94% of the stock is currently owned by institutional investors.
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.
Featured Articles
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.