In the latest trading session, 0.79 million shares of the GigaCloud Technology Inc (NASDAQ:GCT) were traded, and its beta was 1.81. Most recently the company’s share price was $15.87, and it changed around -$1.21 or -7.07% from the last close, which brings the market valuation of the company to $652.17M. GCT currently trades at a discount to its 52-week high of $45.18, offering almost -184.69% off that amount. The share price’s 52-week low was $6.71, which indicates that the current value has risen by an impressive 57.72% since then. We note from GigaCloud Technology Inc’s average daily trading volume that its 10-day average is 1.56 million shares, with the 3-month average coming to 1.34 million.
GigaCloud Technology Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 6 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended GCT as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. GigaCloud Technology Inc is expected to report earnings per share of 0.67 for the current quarter.
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GigaCloud Technology Inc (NASDAQ:GCT) trade information
Instantly GCT has showed a red trend with a performance of -7.07% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 18.69 on recent trading dayincreased the stock’s daily price by 15.09%. The company’s shares are currently down -13.25% year-to-date, but still down -12.98% over the last five days. On the other hand, GigaCloud Technology Inc (NASDAQ:GCT) is -29.30% down in the 30-day period. We can see from the shorts that 5.85 million shares have been sold at a short interest cover period of 4.54 day(s).
The consensus price target as assigned by Wall Street analysts is $50, which translates to bulls needing to increase their stock price by 68.26% from its current value. Analyst projections state that GCT is forecast to be at a low of $50 and a high of $50.
GigaCloud Technology Inc (GCT) estimates and forecasts
GigaCloud Technology Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -63.22 percent over the past six months and at a 16.09% annual growth rate that is well below the industry average of 18.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 13.60% in revenue this quarter, and will report a decrease of -4.30% in the next quarter. The year-over-year growth rate is expected to be 58.30%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of 279.57M in revenue for the current quarter. 3 analysts expect GigaCloud Technology Inc to make 325.97M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 178.17M and 244.74M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 56.90%. Forecasts for the next quarter put sales growth at 33.20%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 208.72%.
GCT Dividends
GigaCloud Technology Inc’s next quarterly earnings report is expected to be released on 2024-Aug-06.
GigaCloud Technology Inc (NASDAQ:GCT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 13.13% of GigaCloud Technology Inc shares, and 38.53% of them are in the hands of institutional investors. The stock currently has a share float of 44.35%. GigaCloud Technology Inc stock is held by 178.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-06-30, it held 2.9531% of the shares, which is about 1.2 million shares worth $36.64 million.
SUSQUEHANNA INTERNATIONAL GROUP, LLP, with 2.0332% or 0.83 million shares worth $25.23 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
iShares Russell 2000 ETF and iShares Russell 2000 Growth ETF were the top two Mutual Funds as of Jul 31, 2024. The former held 641.0 shares worth $10.26 million, making up 1.93% of all outstanding shares. On the other hand, iShares Russell 2000 Growth ETF held roughly 208.64 shares worth around $3.34 million, which represents about 0.63% of the total shares outstanding.
