State of Wyoming bought a new position in shares of GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,199 shares of the company's stock, valued at approximately $173,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC increased its position in shares of GigaCloud Technology by 319.8% during the first quarter. CWM LLC now owns 2,821 shares of the company's stock worth $40,000 after acquiring an additional 2,149 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of GigaCloud Technology by 724.7% during the first quarter. Russell Investments Group Ltd. now owns 4,148 shares of the company's stock worth $59,000 after acquiring an additional 3,645 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of GigaCloud Technology during the fourth quarter worth about $79,000. Banque Cantonale Vaudoise purchased a new stake in shares of GigaCloud Technology during the first quarter worth about $103,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of GigaCloud Technology during the first quarter worth about $147,000. 34.94% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently issued reports on GCT shares. Lake Street Capital lifted their target price on GigaCloud Technology from $26.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Zacks Research upgraded GigaCloud Technology from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Wall Street Zen upgraded GigaCloud Technology from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $24.00.
Check Out Our Latest Stock Report on GCT
Insider Activity at GigaCloud Technology
In other news, insider Marshall Bernes sold 16,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $31.29, for a total transaction of $500,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 24.71% of the company's stock.
GigaCloud Technology Trading Up 3.5%
NASDAQ:GCT opened at $27.06 on Friday. The firm has a market capitalization of $1.02 billion, a PE ratio of 8.13 and a beta of 2.37. The stock has a 50 day moving average of $24.69 and a 200-day moving average of $18.94. GigaCloud Technology Inc. has a 52 week low of $11.17 and a 52 week high of $34.50.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.46 by $0.45. The company had revenue of $322.61 million during the quarter, compared to analyst estimates of $290.08 million. GigaCloud Technology had a return on equity of 32.33% and a net margin of 11.17%.The business's revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 earnings per share. GigaCloud Technology has set its Q3 2025 guidance at EPS. As a group, analysts predict that GigaCloud Technology Inc. will post 3.1 EPS for the current fiscal year.
GigaCloud Technology declared that its board has approved a stock buyback plan on Monday, August 18th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.
GigaCloud Technology Profile
(
Free Report)
GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise in the United States and internationally. The company offers GigaCloud Marketplace integrates product discovery to payments to logistics tools into one easy-to-use platform. 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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider GigaCloud Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GigaCloud Technology wasn't on the list.
While GigaCloud Technology currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
