Truvestments Capital LLC Has $26,000 Stock Position in GigaCloud Technology Inc. $GCT

Key Points

• Truvestments Capital LLC significantly reduced its ownership in GigaCloud Technology, selling 88.1% of its shares and ending up with just 1,846 shares valued at $26,000.
• GigaCloud Technology reported a strong quarterly performance with $0.91 earnings per share (EPS), exceeding analysts' expectations of $0.46 and showing a 3.8% increase in revenue compared to the previous year.
• The company's stock received upgraded ratings from analysts, including a shift from "hold" to "buy", indicating growing confidence in its market performance.

Truvestments Capital LLC trimmed its position in shares of GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) by 88.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,846 shares of the company's stock after selling 13,610 shares during the period. Truvestments Capital LLC's holdings in GigaCloud Technology were worth $26,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of GigaCloud Technology by 52.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 28,380 shares of the company's stock worth $418,000 after buying an additional 9,787 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of GigaCloud Technology in the 4th quarter worth approximately $349,000. Nuveen Asset Management LLC raised its holdings in shares of GigaCloud Technology by 37.1% in the 4th quarter. Nuveen Asset Management LLC now owns 409,787 shares of the company's stock worth $7,589,000 after buying an additional 110,804 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of GigaCloud Technology in the 1st quarter worth approximately $4,806,000. Finally, Deutsche Bank AG raised its holdings in shares of GigaCloud Technology by 54.9% in the 4th quarter. Deutsche Bank AG now owns 20,377 shares of the company's stock worth $377,000 after buying an additional 7,221 shares in the last quarter. 34.94% of the stock is currently owned by institutional investors.

GigaCloud Technology Stock Up 2.3%

NASDAQ:GCT traded up $0.58 during trading hours on Thursday, hitting $26.14. 890,882 shares of the stock were exchanged, compared to its average volume of 1,310,624. The company's 50 day moving average is $24.54 and its two-hundred day moving average is $18.89. GigaCloud Technology Inc. has a twelve month low of $11.17 and a twelve month high of $34.50. The company has a market capitalization of $984.69 million, a P/E ratio of 7.85 and a beta of 2.37.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.45. GigaCloud Technology had a return on equity of 32.33% and a net margin of 11.17%.The firm had revenue of $322.61 million for the quarter, compared to the consensus estimate of $290.08 million. During the same quarter in the prior year, the business earned $1.03 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. GigaCloud Technology has set its Q3 2025 guidance at EPS. On average, equities research analysts expect that GigaCloud Technology Inc. will post 3.1 EPS for the current year.

GigaCloud Technology declared that its board has authorized a share buyback plan on Monday, August 18th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms recently commented on GCT. Wall Street Zen upgraded GigaCloud Technology from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Lake Street Capital increased their price target on GigaCloud Technology from $26.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Zacks Research upgraded GigaCloud Technology from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $24.00.

Insider Buying and Selling at GigaCloud Technology

In other news, insider Marshall Bernes sold 16,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $31.29, for a total value of $500,640.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 24.71% of the stock is currently owned by company insiders.

GigaCloud Technology Company Profile

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.