Tieton Capital Management LLC Acquires New Shares in GigaCloud Technology Inc. $GCT

Tieton Capital Management LLC acquired a new position in shares of GigaCloud Technology Inc. (NASDAQ:GCT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 197,995 shares of the company’s stock, valued at approximately $6,257,000. GigaCloud Technology makes up about 1.8% of Tieton Capital Management LLC’s investment portfolio, making the stock its 25th largest position. Tieton Capital Management LLC owned 0.54% of GigaCloud Technology as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Quarry LP purchased a new position in GigaCloud Technology during the 3rd quarter valued at about $29,000. Larson Financial Group LLC purchased a new stake in shares of GigaCloud Technology in the third quarter worth about $30,000. Caitong International Asset Management Co. Ltd bought a new position in shares of GigaCloud Technology in the third quarter valued at approximately $30,000. Tower Research Capital LLC TRC boosted its position 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 valued at $47,000 after acquiring an additional 483 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in GigaCloud Technology during the first quarter valued at approximately $60,000. Institutional investors own 34.94% of the company’s stock.

GigaCloud Technology Price Performance

GCT stock opened at $52.07 on Thursday. The firm has a 50 day simple moving average of $39.34 and a two-hundred day simple moving average of $40.22. The stock has a market cap of $1.86 billion, a PE ratio of 12.31 and a beta of 1.65. GigaCloud Technology Inc. has a one year low of $25.15 and a one year high of $56.27.

GigaCloud Technology (NASDAQ:GCT) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.26. The company had revenue of $411.64 million during the quarter, compared to the consensus estimate of $380.63 million. GigaCloud Technology had a net margin of 10.65% and a return on equity of 31.42%. On average, research analysts expect that GigaCloud Technology Inc. will post 4.18 EPS for the current fiscal year.

Insider Transactions at GigaCloud Technology

In other news, CTO Xin Wan sold 60,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $50.94, for a total transaction of $3,056,400.00. Following the transaction, the chief technology officer directly owned 657,540 shares in the company, valued at approximately $33,495,087.60. This represents a 8.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marshall Bernes sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $53.00, for a total value of $530,000.00. Following the transaction, the insider directly owned 53,150 shares in the company, valued at approximately $2,816,950. This represents a 15.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 75,000 shares of company stock valued at $3,845,800 over the last quarter. Company insiders own 23.37% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on GCT shares. Zacks Research lowered shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Weiss Ratings lowered shares of GigaCloud Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 8th. Finally, Wall Street Zen cut shares of GigaCloud Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, GigaCloud Technology currently has a consensus rating of “Hold”.

GigaCloud Technology Profile

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.