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 3.47% having worth around $20.07 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 0.68% of the stake.
GigaCloud Technology Inc (GCT) concluded trading on Wednesday at a closing price of $21.75, with 3.01 million shares of worth about $65.44 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 165.89% during that period and On Wednesday, January 24 the price saw a loss of about -1.27%. Currently the company’s common shares owned by public are about 26.73M shares, out of which, 6.89M shares are available for trading.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Innovator IBD 50 ETF, EA Bridgeway Omni Small-Cap Value, and Boston Partners Long/Short Equity are the top 3 mutual funds which are holding stakes in GigaCloud Technology Inc Innovator IBD 50 ETF is currently holding 0.17 million shares of worth totaling $3.05 million. The company recently came selling 2379.0 shares which brought its stake up to 0.53% of the company’s outstanding shares. EA Bridgeway Omni Small-Cap Value bought 426.0 shares, after which its hold over company’s outstanding shares expand to 0.48%, leaving 0.15 million shares with the mutual fund that have a worth of about $2.77 million. Boston Partners Long/Short Equity, after buying 57221.0 shares, have now control over 0.18% of the stake in the company. It holds 57221.0 shares of worth $1.05 million.
Stock saw a price change of -1.85% in past 5 days and over the past one month there was a price change of 45.97%. Year-to-date (YTD), GCT shares are showing a performance of 18.88% which increased to 257.73% 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 $26.45 during that period. The average intraday trading volume for GigaCloud Technology Inc shares is 1.65 million. The stock is currently trading 8.50% above its 20-day simple moving average (SMA20), while that difference is up 44.37% for SMA50 and it goes to 114.77% higher than SMA200.
Acadian Asset Management LLC acquired 1.1 million shares of GigaCloud Technology Inc having value of about $20.07 million. GigaCloud Technology Inc (NASDAQ: GCT) currently have 26.73M outstanding shares and institutions hold larger chunk of about 5.88% of that. Holding of mutual funds in the company is about 25.97% while other institutional holders and individual stake holders have control over 5.79% and 1.74% of the stake respectively.
The stock has a current market capitalization of $881.53M and its 3Y-monthly beta is at 1.97. PE ratio of stock for trailing 12 months is 12.23, 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 11.86% while standing at 13.69% 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.
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.
