In the last trading session, 3.25 million GigaCloud Technology Inc (NASDAQ:GCT) shares changed hands as the company’s beta touched 2.30. With the company’s per share price at $26.91 changed hands at -$3.56 or -11.68% during last session, the market valuation stood at $1.10B. GCT’s last price was a discount, traded about -67.89% off its 52-week high of $45.18. The share price had its 52-week low at $4.93, which suggests the last value was 81.68% up since then. When we look at GigaCloud Technology Inc’s average trading volume, we note the 10-day average is 4.41 million shares, with the 3-month average coming to 3.08 million.
GigaCloud Technology Inc (NASDAQ:GCT) trade information
Instantly GCT was in red as seen at the end of in last trading. With action -37.64%, the performance over the past five days has been red. The drop to weekly highs of 41.00 subtracted -11.68% to the stock’s daily price. The company’s shares are showing year-to-date upside of 47.09%, with the 5-day performance at -37.64% in the red. However, in the 30-day time frame, GigaCloud Technology Inc (NASDAQ:GCT) is -22.92% down. Looking at the short shares, we see there were 2.53 million shares sold at short interest cover period of 0.99 days.
GigaCloud Technology Inc (GCT) estimates and forecasts
Data shows that the GigaCloud Technology Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 174.31% over the past 6 months, a -3.04% in annual growth rate that is considerably lower than the industry average of 18.80%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for GigaCloud Technology Inc will rise 27.60%, while the growth in revenue is estimated to hit 17.80% for the next quarter. Year-over-year growth is forecast to reach 50.10% 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 $210.2 million. 1 analysts are of the opinion that GigaCloud Technology Inc’s revenue for the quarter ending Jun 2024 will be $245 million. The estimates for the next quarter sales put growth at 60.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 208.72%. The 2024 estimates are for GigaCloud Technology Inc earnings to increase by 5.87%.
GCT Dividends
GigaCloud Technology Inc is expected to release its next quarterly earnings report on March 18.
GigaCloud Technology Inc (NASDAQ:GCT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 7.71% of GigaCloud Technology Inc shares while 38.07% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 41.24%. There are 38.07% institutions holding the GigaCloud Technology Inc stock share, with Acadian Asset Management. LLC the top institutional holder. As of Dec 30, 2023, the company held 3.10% of the shares, roughly 1.26 million GCT shares worth $34.03 million.
Arrowstreet Capital, Limited Partnership holds the second largest percentage of outstanding shares, with 1.19% or 0.49 million shares worth $13.06 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2023 were Bridgeway Fds Inc-Omni Small Cap Value Fund and EA Series Trust-EA Bridgeway Omni Small-Cap Value ETF. With 0.18 million shares estimated at $4.81 million under it, the former controlled 0.44% of total outstanding shares. On the other hand, EA Series Trust-EA Bridgeway Omni Small-Cap Value ETF held about 0.37% of the shares, roughly 0.15 million shares worth around $4.06 million.
