In recent trading session, GigaCloud Technology Inc (NASDAQ:GCT) saw 0.59 million shares changing hands at last check today with its beta currently measuring 1.96. Company’s recent per share price level of $22.77 trading at $0.38 or 1.70% at last check today assigns it a market valuation of $935.62M. That most recent trading price of GCT’s stock is at a discount of -98.42% from its 52-week high price of $45.18 and is indicating a premium of 70.53% from its 52-week low price of $6.71. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.47 million shares which gives us an average trading volume of 1.72 million if we extend that period to 3-months.
GigaCloud Technology Inc (NASDAQ:GCT) trade information
Upright in the green today for gaining 1.70%, in the last five days GCT remained trading in the red while hitting it’s week-highest on Wednesday, 08/14/24 when the stock touched $22.77 price level, adding 3.52% to its value on the day. GigaCloud Technology Inc’s shares saw a change of 24.46% in year-to-date performance and have moved -5.68% in past 5-day. GigaCloud Technology Inc (NASDAQ:GCT) showed a performance of -22.73% in past 30-days. Number of shares sold short was 4.74 million shares which calculate 4.29 days to cover the short interests.
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Wall Street analysts have assigned a consensus price target of 50 to the stock, which implies a rise of 54.46% to its recent value today. Analysts have been projecting 50 as a low price target for the stock while placing it at a high target of 50. It follows that stock’s current price would drop -119.59% in reaching the projected high whereas dropping to the targeted low would mean a loss of -119.59% for stock’s current value.
GigaCloud Technology Inc (GCT) estimates and forecasts
Statistics highlight that GigaCloud Technology Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -30.45% of value to its shares in past 6 months, showing an annual growth rate of 41.30% while that of industry is 14.00. Apart from that, the company came raising its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 54.20% from the last financial year’s standing.
3 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 283.4M for the same. And 3 analysts are in estimates of company making revenue of 328.97M in the next quarter. Company posted 178.17M and 244.74M of sales in current and next quarters respectively a year earlier.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 208.72% during past 5 years.
GigaCloud Technology Inc (NASDAQ:GCT)’s Major holders
Insiders are in possession of 13.11% of company’s total shares while institution are holding 38.95 percent of that, with stock having share float percentage of 44.83%. Investors also watch the number of corporate investors in a company very closely, which is 38.95% institutions for GigaCloud Technology Inc that are currently holding shares of the company. ANATOLE INVESTMENT MANAGEMENT LTD is the top institutional holder at GCT for having 0.75 million shares of worth $20.0 million. And as of 2024-03-31, it was holding 1.836 of the company’s outstanding shares.
The second largest institutional holder is ARROWSTREET CAPITAL, LIMITED PARTNERSHIP, which was holding about 0.6 million shares on 2024-03-31. The number of shares represents firm’s hold over 1.472 of outstanding shares, having a total worth of $16.04 million.
On the other hand, iShares Russell 2000 ETF and iShares Russell 2000 Growth ETF are the top two Mutual Funds which own company’s shares. As of Jun 30, 2024, the former fund manager was holding 571.55 shares of worth $13.12 million or 1.72% of the total outstanding shares. The later fund manager was in possession of 206.67 shares on Jun 30, 2024, making its stake of worth around $4.74 million in the company or a holder of 0.62% of company’s stock.
