Key Points
- Director Zhiwu Chen sold 3,000 GigaCloud Technology shares at an average price of $53.12, generating $159,360 and reducing his ownership by 12.47% to 21,057 shares. He also sold 1,500 shares each on September 16 and September 14.
- GigaCloud shares opened at $53.06, near their 52-week high of $56.27, with a $1.89 billion market capitalization. The company recently exceeded quarterly expectations, reporting $1.16 EPS and $411.64 million in revenue.
- Analysts maintain a consensus “Hold” rating, while institutional investors and hedge funds own 34.94% of the company; several major funds recently increased their positions.
GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) Director Zhiwu Chen sold 3,000 shares of the company's stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $53.12, for a total transaction of $159,360.00. Following the completion of the transaction, the director owned 21,057 shares in the company, valued at approximately $1,118,547.84. This trade represents a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
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 transaction of $79,440.00.
- On Monday, September 14th, Zhiwu Chen sold 1,500 shares of GigaCloud Technology stock. The stock was sold at an average price of $52.38, for a total transaction of $78,570.00.
GigaCloud Technology Stock Up 0.4%
NASDAQ GCT opened at $53.06 on Tuesday. The stock has a market cap of $1.89 billion, a PE ratio of 12.54 and a beta of 1.65. The business has a 50 day moving average price of $47.60 and a two-hundred day moving average price of $42.36. GigaCloud Technology Inc. has a fifty-two week low of $25.39 and a fifty-two week high of $56.27.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $411.64 million during the quarter, compared to analyst estimates of $380.63 million. GigaCloud Technology had a net margin of 10.65% and a return on equity of 31.42%. Sell-side analysts anticipate that GigaCloud Technology Inc. will post 4.18 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a "hold (c+)" rating on shares of GigaCloud Technology in a research note on Friday, September 4th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold".
Check Out Our Latest Stock Analysis on GigaCloud Technology
Hedge Funds Weigh In On GigaCloud Technology
A number of hedge funds have recently added to or reduced their stakes in GCT. LSV Asset Management raised its holdings in shares of GigaCloud Technology by 824.2% during the fourth quarter. LSV Asset Management now owns 736,600 shares of the company's stock worth $28,934,000 after purchasing an additional 656,900 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of 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 buying an additional 338,269 shares during the period. Tieton Capital Management LLC acquired a new position in shares of GigaCloud Technology in the 2nd quarter valued at about $6,257,000. First Trust Advisors LP grew its position in shares of GigaCloud Technology by 5.4% during the 1st quarter. First Trust Advisors LP now owns 102,014 shares of the company's stock valued at $4,629,000 after buying an additional 5,203 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of GigaCloud Technology by 184.3% during the 1st quarter. Bank of America Corp DE now owns 99,949 shares of the company's stock valued at $4,536,000 after buying an additional 64,799 shares during the last quarter. Institutional investors and hedge funds own 34.94% of the company's stock.
About GigaCloud Technology
(
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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