GigaCloud Technology Inc (NASDAQ:GCT) has a beta value of 1.76 and has seen 1.12 million shares traded in the last trading session. The company, currently valued at $773.31M, closed the last trade at $18.82 per share which meant it gained $0.89 on the day or 4.96% during that session. The GCT stock price is -140.06% off its 52-week high price of $45.18 and 64.35% above the 52-week low of $6.71. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.75 million shares traded. The 3-month trading volume is 1.38 million shares.
GigaCloud Technology Inc (NASDAQ:GCT) trade information
Sporting 4.96% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the GCT stock price touched $18.82 or saw a rise of 4.95%. Year-to-date, GigaCloud Technology Inc shares have moved 2.87%, while the 5-day performance has seen it change 8.85%. Over the past 30 days, the shares of GigaCloud Technology Inc (NASDAQ:GCT) have changed -16.50%. Short interest in the company has seen 5.85 million shares shorted with days to cover at 4.54.
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Wall Street analysts have a consensus price target for the stock at $50, which means that the shares’ value could jump 62.36% from current levels. The projected low price target is $50.0 while the price target rests at a high of $50.0. In that case, then, we find that the current price level is -165.67% off the targeted high while a plunge would see the stock gain -165.67% from current levels.
GigaCloud Technology Inc (GCT) estimates and forecasts
Figures show that GigaCloud Technology Inc shares have underperformed across the wider relevant industry. The company’s shares have lost -32.08% over the past 6 months, with this year growth rate of 16.09%, compared to 18.10% for the industry. Revenue growth from the last financial year stood is estimated to be 58.30%.
3 analysts offering their estimates for the company have set an average revenue estimate of 279.57M for the current quarter. 3 have an estimated revenue figure of 325.97M for the next ending quarter. Year-ago sales stood 178.17M and 244.74M respectively for this quarter and the next, and analysts expect sales will grow by 56.90% for the current quarter and 58.30% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 208.72% over the past 5 years.
GCT Dividends
GigaCloud Technology Inc is expected to release its next earnings report in October this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
GigaCloud Technology Inc (NASDAQ:GCT)’s Major holders
Insiders own 13.13% of the company shares, while shares held by institutions stand at 38.17% with a share float percentage of 43.94%. Investors are also buoyed by the number of investors in a company, with GigaCloud Technology Inc having a total of 178.0 institutions that hold shares in the company. The top two institutional holders are BLACKROCK INC. with over 1.2 million shares worth more than $36.64 million. As of 2024-06-30, BLACKROCK INC. held 2.9531% of shares outstanding.
The other major institutional holder is SUSQUEHANNA INTERNATIONAL GROUP, LLP, with the holding of over 0.83 million shares as of 2024-06-30. The firm’s total holdings are worth over $25.23 million and represent 2.0332% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Russell 2000 ETF and iShares Russell 2000 Growth ETF . As of Aug 31, 2024 , the former fund manager holds about 1.88% shares in the company for having 627.33 shares of worth $11.81 million while later fund manager owns 206.92 shares of worth $3.89 million as of Aug 31, 2024 , which makes it owner of about 0.62% of company’s outstanding stock.
