Key Points
- Director Zhiwu Chen sold shares in two transactions: 1,500 shares for $78,570 at $52.38 each on September 14, followed by another 1,500 shares for $79,440 at $52.96 each on September 16. His remaining stake was 25,557 shares after the first sale.
- GigaCloud shares opened at $51.64, with a $1.84 billion market capitalization, while trading near their 52-week high of $56.27. The stock was reported down 2.0%.
- The company exceeded quarterly expectations, reporting $1.16 in earnings per share versus the $0.90 consensus and revenue of $411.64 million versus estimates of $380.63 million. Analysts and Weiss Ratings maintained a “Hold” view, while institutional investors owned 34.94% of the stock.
GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) Director Zhiwu Chen sold 1,500 shares of GigaCloud Technology stock in a transaction on Monday, September 14th. The shares were sold at an average price of $52.38, for a total transaction of $78,570.00. Following the completion of the transaction, the director owned 25,557 shares in the company, valued at approximately $1,338,675.66. This trade represents a 5.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Zhiwu Chen also recently made the following trade(s):
- On Wednesday, September 16th, Zhiwu Chen sold 1,500 shares of GigaCloud Technology stock. The stock was sold at an average price of $52.96, for a total value of $79,440.00.
GigaCloud Technology Stock Down 2.0%
GCT stock opened at $51.64 on Thursday. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 12.21 and a beta of 1.65. The business has a fifty day simple moving average of $46.52 and a 200-day simple moving average of $42.15. GigaCloud Technology Inc. has a 52 week low of $25.39 and a 52 week high of $56.27.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.26. GigaCloud Technology had a return on equity of 31.42% and a net margin of 10.65%.The firm had revenue of $411.64 million for the quarter, compared to analysts' expectations of $380.63 million. As a group, analysts expect that GigaCloud Technology Inc. will post 4.18 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of GigaCloud Technology in a research note on Friday, September 4th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold".
View Our Latest Analysis on GCT
Institutional Investors Weigh In On GigaCloud Technology
Several large investors have recently made changes to their positions in GCT. LSV Asset Management lifted its holdings in shares of GigaCloud Technology by 824.2% during the 4th quarter. LSV Asset Management now owns 736,600 shares of the company's stock valued at $28,934,000 after acquiring an additional 656,900 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in GigaCloud Technology by 252.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 472,344 shares of the company's stock valued at $21,424,000 after purchasing an additional 338,269 shares in the last quarter. Tieton Capital Management LLC purchased a new position in GigaCloud Technology in the second quarter valued at about $6,257,000. First Trust Advisors LP raised its position in GigaCloud Technology by 5.4% in the first quarter. First Trust Advisors LP now owns 102,014 shares of the company's stock valued at $4,629,000 after purchasing an additional 5,203 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of GigaCloud Technology by 184.3% during the first quarter. Bank of America Corp DE now owns 99,949 shares of the company's stock worth $4,536,000 after purchasing an additional 64,799 shares in the last quarter. Institutional investors and hedge funds own 34.94% of the company's stock.
GigaCloud Technology Company Profile
(
Get Free Report)
GigaCloud Technology Inc operates a business-to-business e-commerce platform focused on large-parcel merchandise. Its GigaCloud Marketplace connects manufacturers, primarily in Asia, with resellers and retailers in North America, Europe and other markets. The platform is designed for products such as furniture, appliances, fitness equipment and other bulky consumer goods that can be more complex to ship and sell through traditional e-commerce channels.
In addition to facilitating transactions, GigaCloud provides integrated services intended to support the order lifecycle, including payments, warehousing, international freight, delivery coordination and last-mile logistics.
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