GigaCloud Technology (NASDAQ:GCT) Shares Down 1.4%

GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report)'s share price fell 1.4% during trading on Tuesday . The company traded as low as $31.40 and last traded at $32.03. 775,645 shares were traded during mid-day trading, a decline of 75% from the average session volume of 3,102,853 shares. The stock had previously closed at $32.47.

Analyst Ratings Changes

Separately, Roth Mkm raised their price objective on GigaCloud Technology from $28.00 to $35.00 and gave the stock a "buy" rating in a report on Tuesday, April 2nd.

GigaCloud Technology Trading Up 8.1 %

The company has a market cap of $1.43 billion, a price-to-earnings ratio of 15.26 and a beta of 2.27. The firm has a 50-day moving average price of $32.50 and a 200 day moving average price of $20.58.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last issued its quarterly earnings data on Friday, March 15th. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.29. The firm had revenue of $244.74 million during the quarter, compared to the consensus estimate of $220.30 million. GigaCloud Technology had a return on equity of 36.40% and a net margin of 13.37%. Research analysts anticipate that GigaCloud Technology Inc. will post 2.58 earnings per share for the current fiscal year.

Insider Activity at GigaCloud Technology

In related news, CTO Xin Wan sold 150,000 shares of the firm's stock in a transaction dated Thursday, March 28th. The stock was 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 of the company's stock, valued at $25,829,940.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CTO Xin Wan sold 150,000 shares of the firm's stock in a transaction dated Thursday, March 28th. The stock was 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 of the company's stock, valued at $25,829,940.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lei Wu sold 1,000 shares of the firm's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $29.53, for a total value of $29,530.00. Following the transaction, the chief executive officer now directly owns 1,248,994 shares of the company's stock, valued at approximately $36,882,792.82. The disclosure for this sale can be found here. Insiders sold 461,287 shares of company stock valued at $13,340,395 over the last 90 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GCT. PAX Financial Group LLC acquired a new position in shares of GigaCloud Technology during the 3rd quarter valued at about $141,000. Acadian Asset Management LLC acquired a new position in shares of GigaCloud Technology during the 3rd quarter valued at about $9,634,000. Ritholtz Wealth Management acquired a new position in shares of GigaCloud Technology during the 4th quarter valued at about $295,000. WINTON GROUP Ltd acquired a new position in shares of GigaCloud Technology during the 3rd quarter valued at about $258,000. Finally, New York State Common Retirement Fund acquired a new position in shares of GigaCloud Technology during the 3rd quarter valued at about $1,895,000. 34.94% of the stock is owned by institutional investors and hedge funds.

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.