During the recent session, GigaCloud Technology Inc (NASDAQ:GCT)’s traded shares were 2.21 million, with the beta value of the company hitting 2.09. At the last check today, the stock’s price was $35.46, reflecting an intraday loss of -0.53% or -$0.19. The 52-week high for the GCT share is $45.18, that puts it down -27.41 from that peak though still a striking 86.1% gain since the share price plummeted to a 52-week low of $4.93. The company’s market capitalization is $1.44B, and the average intraday trading volume over the past 10 days was 3.39 million shares, and the average trade volume was 3.18 million shares over the past three months.
GigaCloud Technology Inc (NASDAQ:GCT) trade information
GigaCloud Technology Inc (GCT) registered a -0.53% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -0.53% in intraday trading to $35.46, hitting a weekly high. The stock’s 5-day price performance is 35.56%, and it has moved by -5.83% in 30 days. Based on these gigs, the overall price performance for the year is 452.38%. The short interest in GigaCloud Technology Inc (NASDAQ:GCT) is 2.6 million shares and it means that shorts have 0.89 day(s) to cover.
GigaCloud Technology Inc (GCT) estimates and forecasts
Statistics show that GigaCloud Technology Inc has underperformed its competitors in share price, compared to the industry in which it operates. GigaCloud Technology Inc (GCT) shares have gone up 295.79% during the last six months, with a year-to-date growth rate less than the industry average at 12.17% against 17.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 75.90% this quarter and then jump 60.00% in the quarter after that. In the rating firms’ projections, revenue will increase 57.20% compared to the previous financial year.
Revenue for the current quarter is expected to be $235 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $270.7 million by the end of Jun 2024.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 208.72%. While earnings are projected to return 21.09% in 2024.
GCT Dividends
GigaCloud Technology Inc is due to release its next quarterly earnings on March 18. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
GigaCloud Technology Inc (NASDAQ:GCT)’s Major holders
GigaCloud Technology Inc insiders own 7.71% of total outstanding shares while institutional holders control 38.07%, with the float percentage being 41.25%. Boston Partners is the largest shareholder of the company, while 86 institutions own stock in it. As of Jun 29, 2023, the company held over 0.15 million shares (or 0.37% of all shares), a total value of $1.02 million in shares.
The next largest institutional holding, with 67688.0 shares, is of Two Sigma Investments, LP’s that is approximately 0.17% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $0.46 million.
Also, the Mutual Funds coming in first place with the largest holdings of GigaCloud Technology Inc (GCT) shares are Fidelity NASDAQ Composite Index Fund and SEI Institutional Investment Tr-World Equity Ex-U.S. Fd. Data provided on May 30, 2023 indicates that Fidelity NASDAQ Composite Index Fund owns about 17953.0 shares. This amounts to just over 0.04 percent of the company’s overall shares, with a $0.12 million market value. The same data shows that the other fund manager holds slightly less at 17909.0, or about 0.04% of the stock, which is worth about $0.16 million.
