GigaCloud Technology (NASDAQ:GCT) Stock Price Up 5.4% – Still a Buy?

GigaCloud Technology Inc. (NASDAQ:GCT)’s share price was up 5.4% on Friday . The company traded as high as $42.74 and last traded at $42.7150. Approximately 127,592 shares changed hands during trading, a decline of 75% from the average daily volume of 518,335 shares. The stock had previously closed at $40.51.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GCT shares. Weiss Ratings downgraded GigaCloud Technology from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Zacks Research cut GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Wall Street Zen upgraded shares of GigaCloud Technology from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $24.00.

GigaCloud Technology Stock Performance

The firm’s 50-day simple moving average is $38.79 and its two-hundred day simple moving average is $31.12. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 12.80 and a beta of 2.28.

GigaCloud Technology (NASDAQ:GCT) last released its earnings results on Thursday, November 6th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.34. GigaCloud Technology had a return on equity of 30.43% and a net margin of 10.62%.The firm had revenue of $332.64 million for the quarter, compared to analyst estimates of $300.96 million. During the same quarter in the prior year, the firm posted $1.15 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. Equities research analysts expect that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.

Insider Transactions at GigaCloud Technology

In other news, CEO Lei Wu sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $42.36, for a total value of $847,200.00. Following the completion of the transaction, the chief executive officer directly owned 840,000 shares in the company, valued at approximately $35,582,400. The trade was a 2.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Xinyan Hao sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $35.18, for a total transaction of $3,518,000.00. Following the completion of the sale, the chief operating officer owned 407,486 shares in the company, valued at $14,335,357.48. This represents a 19.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 468,168 shares of company stock valued at $16,731,529 in the last quarter. 24.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. lifted its stake in shares of GigaCloud Technology by 17.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,705 shares of the company’s stock valued at $54,000 after buying an additional 405 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of GigaCloud Technology by 25.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company’s stock worth $47,000 after purchasing an additional 483 shares during the period. SG Americas Securities LLC lifted its position in GigaCloud Technology by 10.2% during the fourth quarter. SG Americas Securities LLC now owns 5,249 shares of the company’s stock valued at $206,000 after purchasing an additional 485 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in GigaCloud Technology by 5.6% in the second quarter. Stratos Wealth Partners LTD. now owns 10,945 shares of the company’s stock valued at $217,000 after acquiring an additional 585 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of GigaCloud Technology by 184.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock worth $27,000 after acquiring an additional 589 shares during the last quarter. 34.94% of the stock is owned by institutional investors and hedge funds.

About GigaCloud Technology

GigaCloud Technology Inc (NASDAQ:GCT) is a China-based provider of software-as-a-service (SaaS) and cloud computing solutions tailored for cross-border e-commerce. The company’s core offering, its Supply Chain Embedded E-commerce as a Service (SCEaaS) platform, integrates procurement, order management, warehousing, logistics and payment services into a unified cloud-based system. This end-to-end digital supply chain solution is designed to help small and medium-sized Chinese exporters efficiently connect with global buyers without the need to build and maintain their own infrastructure.

Through its modular, subscription-based SaaS model, GigaCloud enables merchants to scale operations on demand and minimize upfront capital expenditures.