In the latest trading session, 0.95 million GigaCloud Technology Inc (NASDAQ:GCT) shares changed hands as the company’s beta touched 1.75. With the company’s most recent per share price at $23.88 changing hands around $0.12 or 0.50% at last look, the market valuation stands at $981.19M. GCT’s current price is a discount, trading about -89.2% off its 52-week high of $45.18. The share price had its 52-week low at $6.71, which suggests the last value was 71.9% up since then. When we look at GigaCloud Technology Inc’s average trading volume, we note the 10-day average is 2.06 million shares, with the 3-month average coming to 1.46 million.
GigaCloud Technology Inc (NASDAQ:GCT) trade information
Instantly GCT is in green as seen in intraday trades today. With action 33.18%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 30.52%, with the 5-day performance at 33.18% in the green. However, in the 30-day time frame, GigaCloud Technology Inc (NASDAQ:GCT) is 18.80% up. Looking at the short shares, we see there were 5.84 million shares sold at short interest cover period of 4.47 days.
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The consensus price target for the stock as assigned by Wall Street analysts is 50, meaning bulls need an upside of 52.24% from its recent market value. According to analyst projections, GCT’s forecast low is 50 with 50 as the target high. To hit the forecast high, the stock’s price needs a -109.38% plunge from its current level, while the stock would need to soar -109.38% for it to hit the projected low.
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 -22.45% over the past 6 months, a 16.09% in annual growth rate that is considerably lower than the industry average of 18.20%. Year-over-year growth is forecast to reach 58.30% up from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of 279.57M. 3 analysts are of the opinion that GigaCloud Technology Inc’s revenue for the current quarter will be 325.97M. The company’s revenue for the corresponding quarters a year ago was 178.17M and 244.74M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 56.90%. The estimates for the next quarter sales put growth at 33.20%.
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 39.67%.
GCT Dividends
GigaCloud Technology Inc is expected to release its next quarterly earnings report on 2024-Aug-06.
GigaCloud Technology Inc (NASDAQ:GCT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 13.13% of GigaCloud Technology Inc shares while 38.17% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 43.94%. There are 38.17% institutions holding the GigaCloud Technology Inc stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 2.9531% of the shares, roughly 1.2 million GCT shares worth $36.64 million.
SUSQUEHANNA INTERNATIONAL GROUP, LLP holds the second largest percentage of outstanding shares, with 2.0332% or 0.83 million shares worth $25.23 million as of 2024-06-30.
