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Analyzing GigaCloud Technology Inc.(NASDAQ: GCT) Stock as a Disaster or Opportunity

In the latest trading session, 0.52 million GigaCloud Technology Inc. (NASDAQ:GCT) shares changed hands as the company’s beta touched 1.32. With the company’s most recent per share price at $10.57 changed hands at -$0.88 or -7.69% at last look, the market valuation stands at $451.13M. GCT’s current price is a discount, trading about -75.97% off its 52-week high of $18.60. The share price had its 52-week low at $4.14, which suggests the last value was 60.83% up since then. When we look at GigaCloud Technology Inc.’s average trading volume, we note the 10-day average is 1.8 million shares, with the 3-month average coming to 656.13K.

Analysts gave the GigaCloud Technology Inc. (GCT) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended GCT as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. GigaCloud Technology Inc.’s EPS for the current quarter is expected to be $0.38.

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GigaCloud Technology Inc. (NASDAQ:GCT) trade information

Instantly GCT was in red as seen in intraday trades today. With action -40.38%, the performance over the past five days has been red. The drop to weekly highs of 18.60 on Friday, 09/15/23 subtracted -7.69% to the stock’s daily price. The company’s shares are showing year-to-date upside of 85.76%, with the 5-day performance at -40.38% in the red. However, in the 30-day time frame, GigaCloud Technology Inc. (NASDAQ:GCT) is -11.10% down. Looking at the short shares, we see there were 0.44 million shares sold at short interest cover period of 0.74 days.

The consensus price target for the stock as assigned by Wall Street analysts is $21.00, meaning bulls need an upside of 49.67% from its recent market value. According to analyst projections, GCT’s forecast low is $16.00 with $26.00 as the target high. To hit the forecast high, the stock’s price needs a -145.98% plunge from its current level, while the stock would need to soar -51.37% for it to hit the projected low.

GigaCloud Technology Inc. (GCT) estimates and forecasts

Data shows that the GigaCloud Technology Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 100.57% over the past 6 months, a 158.33% in annual growth rate that is considerably higher than the industry average of 17.90%. Year-over-year growth is forecast to reach 22.60% up from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $164.5 million. 1 analysts are of the opinion that GigaCloud Technology Inc.’s revenue for the quarter ending Dec 2023 will be $155.1 million. The company’s revenue for the corresponding quarters a year ago was $128 million and $125.6 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 28.50%. The estimates for the next quarter sales put growth at 23.50%.

The 2023 estimates are for GigaCloud Technology Inc. earnings to increase by 61.70%.

GCT Dividends

GigaCloud Technology Inc. is expected to release its next quarterly earnings report on August 15.

GigaCloud Technology Inc. (NASDAQ:GCT)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 52.32% of GigaCloud Technology Inc. shares while 26.44% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 55.46%. There are 26.44% institutions holding the GigaCloud Technology Inc. stock share, with Boston Partners the top institutional holder. As of Jun 29, 2023, the company held 0.37% of the shares, roughly 0.15 million GCT shares worth $1.51 million.

Two Sigma Investments, LP holds the second largest percentage of outstanding shares, with 0.17% or 67688.0 shares worth $0.68 million as of Jun 29, 2023.

With 17953.0 shares estimated at $0.18 million under it, the former controlled 0.04% of total outstanding shares.

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