Roth Capital Weighs in on GigaCloud Technology Inc.'s Q3 2024 Earnings (NASDAQ:GCT)

GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) - Equities researchers at Roth Capital upped their Q3 2024 EPS estimates for shares of GigaCloud Technology in a research note issued on Monday, April 1st. Roth Capital analyst M. Koranda now forecasts that the company will post earnings of $0.80 per share for the quarter, up from their previous forecast of $0.64. The consensus estimate for GigaCloud Technology's current full-year earnings is $2.23 per share. Roth Capital also issued estimates for GigaCloud Technology's Q1 2025 earnings at $0.69 EPS, Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $0.93 EPS and Q4 2025 earnings at $1.13 EPS.

Separately, Roth Mkm upped their price target on shares of GigaCloud Technology from $28.00 to $35.00 and gave the company a "buy" rating in a research report on Tuesday.

GigaCloud Technology Price Performance

Shares of NASDAQ:GCT traded up $2.40 during trading on Wednesday, hitting $35.65. 5,205,517 shares of the company were exchanged, compared to its average volume of 3,190,266. The stock has a market capitalization of $1.45 billion, a P/E ratio of 15.50 and a beta of 2.26. GigaCloud Technology has a 12-month low of $4.93 and a 12-month high of $45.18. The firm's 50 day moving average price is $31.14 and its 200-day moving average price is $19.20.

Hedge Funds Weigh In On GigaCloud Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC acquired a new position in shares of GigaCloud Technology during the 4th quarter worth $30,000. Quarry LP acquired a new position in shares of GigaCloud Technology during the 4th quarter worth $47,000. State of Wyoming acquired a new position in shares of GigaCloud Technology during the 2nd quarter worth $27,000. Morgan Stanley acquired a new position in shares of GigaCloud Technology during the 4th quarter worth $25,000. Finally, Royal Bank of Canada acquired a new position in shares of GigaCloud Technology during the 4th quarter worth $108,000. 34.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at GigaCloud Technology

In related news, COO Xinyan Hao sold 1,088 shares of the company's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $32.36, for a total value of $35,207.68. Following the completion of the sale, the chief operating officer now owns 1,148,912 shares in the company, valued at approximately $37,178,792.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other GigaCloud Technology news, CTO Xin Wan sold 150,000 shares of the company's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $27.26, for a total transaction of $4,089,000.00. Following the completion of the transaction, the chief technology officer now owns 947,540 shares in the company, valued at approximately $25,829,940.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Xinyan Hao sold 1,088 shares of the company's stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $32.36, for a total transaction of $35,207.68. Following the transaction, the chief operating officer now owns 1,148,912 shares of the company's stock, valued at approximately $37,178,792.32. The disclosure for this sale can be found here. Insiders sold a total of 420,287 shares of company stock worth $11,919,335 in the last 90 days.

About GigaCloud Technology

GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise. 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.