GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) shares traded up 4% during trading on Tuesday . The company traded as high as $32.79 and last traded at $32.79. 1,680,349 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 3,055,211 shares. The stock had previously closed at $31.54.
Analyst Ratings Changes
Separately, Roth Mkm boosted their target price on shares of GigaCloud Technology from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 7th.
GigaCloud Technology Trading Up 4.7 %
The firm’s 50-day moving average price is $20.04 and its 200 day moving average price is $13.77. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 18.13 and a beta of 1.97.
GigaCloud Technology (NASDAQ:GCT – Get Free Report) last released its quarterly earnings data on Thursday, November 30th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. The business had revenue of $178.17 million during the quarter, compared to analysts’ expectations of $164.50 million. GigaCloud Technology had a net margin of 12.15% and a return on equity of 31.31%. As a group, equities research analysts anticipate that GigaCloud Technology Inc. will post 1.76 earnings per share for the current fiscal year.
Institutional Investors Weigh In On GigaCloud Technology
A number of institutional investors have recently added to or reduced their stakes in GCT. Morgan Stanley acquired a new position in GigaCloud Technology during the fourth quarter worth $25,000. State of Wyoming purchased a new position in GigaCloud Technology during the second quarter valued at approximately $27,000. CWM LLC bought a new stake in GigaCloud Technology during the fourth quarter valued at approximately $30,000. Banque Cantonale Vaudoise bought a new stake in GigaCloud Technology during the second quarter valued at approximately $61,000. Finally, UBS Group AG bought a new stake in shares of GigaCloud Technology in the 3rd quarter worth approximately $61,000. 21.21% of the stock is owned by institutional investors.
About GigaCloud Technology
GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise. Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia, and Europe to execute cross-border transactions across furniture, home appliance, fitness equipment, and other large parcel categories.