After grabbing 1.1 million shares, the institutional investor is now in possession of 1.1 million shares of the Technology Company. The new investment brought the stake of investor firm to 3.49% having worth around $10.66 million. Moreover, Numeric Investors LLC increased its share by 0.28 million to have a control over 0.28 million shares. And New York State Common Retirement raised its holdings to 0.22 million shares by acquiring 0.22 million shares or 0.69% of the stake.
GigaCloud Technology Inc (GCT) concluded trading on 01/10/24 at a closing price of $21.69, with 7.98 million shares of worth about $173.09 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 186.53% during that period and on Wednesday the price saw a loss of about -7.58%. Currently the company’s common shares owned by public are about 26.73M shares, out of which, 6.89M shares are available for trading.
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EA Bridgeway Omni Small-Cap Value, Boston Partners Long/Short Equity, and Lumyna – MW ESG are the top 3 mutual funds which are holding stakes in GigaCloud Technology Inc EA Bridgeway Omni Small-Cap Value is currently holding 0.15 million shares of worth totaling $1.42 million. The company recently came buying 142.0 shares which brought its stake up to 0.47% of the company’s outstanding shares. Lumyna – MW ESG, after buying 56630.0 shares, have now control over 0.18% of the stake in the company. It holds 56630.0 shares of worth $0.55 million.
GigaCloud Technology Inc (NASDAQ: GCT) started trading at $24.13, above $0.66 from concluding price of the previous day. However, the stock later moved at a day high price of 26.45, or with a loss of -7.58%. Stock saw a price change of 16.74% in past 5 days and over the past one month there was a price change of 62.72%. Year-to-date (YTD), GCT shares are showing a performance of 18.56% which increased to 255.57% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.79 but also hit the highest price of $24.01 during that period. The average intraday trading volume for GigaCloud Technology Inc shares is 1.18 million. The stock is currently trading 27.23% above its 20-day simple moving average (SMA20), while that difference is up 66.48% for SMA50 and it goes to 129.87% higher than SMA200.
Acadian Asset Management LLC acquired 1.1 million shares of GigaCloud Technology Inc having value of about $10.66 million. GigaCloud Technology Inc (NASDAQ: GCT) currently have 26.73M outstanding shares and institutions hold larger chunk of about 5.76% of that. Holding of mutual funds in the company is about 25.97% while other institutional holders and individual stake holders have control over 6.23% and 1.20% of the stake respectively.
The stock has a current market capitalization of $879.10M and its 3Y-monthly beta is at 1.87. PE ratio of stock for trailing 12 months is 12.19, while it has posted earnings per share of $1.78 in the same period. It has Quick Ratio of 1.84 while making debt-to-equity ratio of 0.65. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GCT, volatility over the week remained 15.71% while standing at 12.22% over the month.
Analysts are in expectations that GigaCloud Technology Inc (GCT) stock would likely to be making an EPS of $0.58 in the current quarter, while forecast for next quarter EPS is $0.37 and it is $2.28 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.58 which is $0.58 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.01 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 227.50% while it is estimated to increase by 16.28% in next year.
Analysts at 2 brokerage firms have issued recommendations for the GigaCloud Technology Inc (GCT)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 2 Wall Street analysts, 2 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by ROTH MKM on June 16, 2023 offering a Buy rating for the stock and assigned a target price of $13 to it.
