GigaCloud Technology Inc (NASDAQ: GCT): Do Not Miss The Gain Train

GigaCloud Technology Inc (GCT) concluded trading on Wednesday at a closing price of $35.65, with 5.2 million shares of worth about $185.32 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 294.36% during that period and on April 3, 2024 the price saw a gain of about 7.22%. Currently the company’s common shares owned by public are about 31.46M shares, out of which, 16.27M shares are available for trading.

Stock saw a price change of 39.26% in past 5 days and over the past one month there was a price change of -11.89%. Year-to-date (YTD), GCT shares are showing a performance of 94.86% which increased to 465.87% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.93 but also hit the highest price of $45.18 during that period. The average intraday trading volume for GigaCloud Technology Inc shares is 3.15 million. The stock is currently trading 10.28% above its 20-day simple moving average (SMA20), while that difference is up 16.92% for SMA50 and it goes to 121.11% higher than SMA200.

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GigaCloud Technology Inc (NASDAQ: GCT) currently have 31.46M outstanding shares and institutions hold larger chunk of about 14.94% of that.

The stock has a current market capitalization of $1.45B and its 3Y-monthly beta is at 2.13. PE ratio of stock for trailing 12 months is 15.48, while it has posted earnings per share of $2.30 in the same period. It has Quick Ratio of 1.26 while making debt-to-equity ratio of 1.39. 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 11.19% 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 $0.51 in the current quarter, while forecast for next quarter EPS is $0.72 and it is $3.51 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.51 which is $0.51 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 $0.29 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 21.09% while it is estimated to increase by 26.03% 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. Coverage by Aegis Capital stated GigaCloud Technology Inc (GCT) stock as a Buy in their note to investors on October 03, 2022, suggesting a price target of $26 for the stock.

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