During the last session, GigaCloud Technology Inc (NASDAQ:GCT)’s traded shares were 0.66 million, with the beta value of the company hitting 1.78. At the end of the trading day, the stock’s price was $22.71, reflecting an intraday loss of -0.26% or -$0.06. The 52-week high for the GCT share is $45.18, that puts it down -98.94 from that peak though still a striking 63.54% gain since the share price plummeted to a 52-week low of $8.28. The company’s market capitalization is $933.19M, and the average intraday trading volume over the past 10 days was 1.1 million shares, and the average trade volume was 1.52 million shares over the past three months.
GigaCloud Technology Inc (NASDAQ:GCT) trade information
GigaCloud Technology Inc (GCT) registered a -0.26% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.26% in intraday trading to $22.71, hitting a weekly high. The stock’s 5-day price performance is -6.04%, and it has moved by -13.35% in 30 days. Based on these gigs, the overall price performance for the year is 128.93%. The short interest in GigaCloud Technology Inc (NASDAQ:GCT) is 6.96 million shares and it means that shorts have 3.61 day(s) to cover.
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The consensus price target of analysts on Wall Street is $50, which implies an increase of 54.58% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $50 and $50 respectively. As a result, GCT is trading at a discount of -120.17% off the target high and -120.17% off the low.
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 down -39.07% during the last six months, with a year-to-date growth rate less than the industry average at 16.09% against 18.40. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 13.60% this quarter and then drop -4.30% in the quarter after that. In the rating firms’ projections, revenue will increase 58.30% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 279.57M as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to 325.97M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 178.17M and 244.74M respectively. In this case, analysts expect current quarter sales to grow by 56.90% and then jump by 33.20% in the coming quarter.
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 41.30% in 2024.
GCT Dividends
GigaCloud Technology Inc is due to release its next quarterly earnings on 2024-Nov-07. 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 13.44% of total outstanding shares while institutional holders control 38.13%, with the float percentage being 44.05%. BLACKROCK INC. is the largest shareholder of the company, while 187.0 institutions own stock in it. As of 2024-06-30, the company held over 1.2 million shares (or 2.9531% of all shares), a total value of $36.64 million in shares.
The next largest institutional holding, with 0.83 million shares, is of SUSQUEHANNA INTERNATIONAL GROUP, LLP’s that is approximately 2.0332% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $25.23 million.
