GigaCloud Technology Inc. (NASDAQ:GCT) Short Interest Down 22.4% in August

Key Points

• GigaCloud Technology Inc. experienced a significant 22.4% decline in short interest during August, with total short interest dropping from 4,020,000 shares to 3,120,000 shares, representing 12.6% of the company's outstanding shares.
• The company reported a quarterly EPS of $0.91, exceeding analyst estimates, and a revenue of $322.61 million, which was above the forecast of $290.08 million, reflecting a year-over-year growth of 3.8%.
• Several analysts have rated GigaCloud Technology as a "hold," with a consensus price target of $24.00, while Lake Street Capital set a more optimistic price target of $33.00 and assigned a "buy" rating.

GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) was the recipient of a large decline in short interest during the month of August. As of August 15th, there was short interest totaling 3,120,000 shares, adeclineof22.4% from the July 31st total of 4,020,000 shares. Currently,12.6% of the company's shares are sold short. Based on an average trading volume of 815,000 shares, the days-to-cover ratio is currently 3.8 days. Based on an average trading volume of 815,000 shares, the days-to-cover ratio is currently 3.8 days. Currently,12.6% of the company's shares are sold short.

GigaCloud Technology Stock Performance

NASDAQ:GCT traded up $0.47 during midday trading on Tuesday, reaching $28.04. 241,847 shares of the stock traded hands, compared to its average volume of 932,747. GigaCloud Technology has a 12 month low of $11.17 and a 12 month high of $34.50. The stock has a market capitalization of $1.06 billion, a P/E ratio of 8.40 and a beta of 2.37. The company has a fifty day moving average of $24.84 and a 200 day moving average of $18.99.

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

GigaCloud Technology declared that its Board of Directors has approved a stock buyback program on Monday, August 18th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Lake Street Capital upped their price target on shares of GigaCloud Technology from $26.00 to $33.00 and gave the company a "buy" rating in a report on Friday, August 8th. Zacks Research upgraded shares of GigaCloud Technology from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, Wall Street Zen lowered shares of GigaCloud Technology from a "buy" rating to a "hold" rating in a report on Sunday. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $24.00.

Insider Buying and Selling at GigaCloud Technology

In other news, insider Marshall Bernes sold 16,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $31.29, for a total value of $500,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 24.71% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC bought a new position in GigaCloud Technology in the 2nd quarter worth $35,000. Tower Research Capital LLC TRC raised its holdings in GigaCloud Technology by 25.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company's stock worth $47,000 after purchasing an additional 483 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in GigaCloud Technology by 17.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,705 shares of the company's stock worth $54,000 after purchasing an additional 405 shares in the last quarter. CWM LLC raised its holdings in GigaCloud Technology by 319.8% in the 1st quarter. CWM LLC now owns 2,821 shares of the company's stock worth $40,000 after purchasing an additional 2,149 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in GigaCloud Technology by 724.7% in the 1st quarter. Russell Investments Group Ltd. now owns 4,148 shares of the company's stock worth $59,000 after purchasing an additional 3,645 shares in the last quarter. 34.94% of the stock is currently owned by institutional investors.

About GigaCloud Technology

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.

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