PAX Financial Group LLC bought a new position in shares of GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,000 shares of the company's stock, valued at approximately $141,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Stanley purchased a new stake in shares of GigaCloud Technology during the 4th quarter valued at approximately $25,000. State of Wyoming purchased a new stake in shares of GigaCloud Technology during the 2nd quarter valued at approximately $27,000. Banque Cantonale Vaudoise purchased a new stake in shares of GigaCloud Technology during the 2nd quarter valued at approximately $61,000. UBS Group AG purchased a new stake in shares of GigaCloud Technology during the 3rd quarter valued at approximately $61,000. Finally, Two Sigma Investments LP purchased a new stake in shares of GigaCloud Technology during the 1st quarter valued at approximately $76,000. 21.21% of the stock is currently owned by institutional investors and hedge funds.
GigaCloud Technology Trading Up 1.1 %
Shares of GCT stock opened at $34.89 on Tuesday. GigaCloud Technology Inc. has a 12 month low of $4.86 and a 12 month high of $36.19. The company has a market cap of $1.42 billion, a P/E ratio of 19.83 and a beta of 1.97. The firm has a fifty day moving average price of $21.99 and a 200 day moving average price of $14.63.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last released its quarterly earnings data on Thursday, November 30th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.21. GigaCloud Technology had a net margin of 12.15% and a return on equity of 31.31%. The company had revenue of $178.17 million during the quarter, compared to the consensus estimate of $164.50 million. On average, equities analysts forecast that GigaCloud Technology Inc. will post 1.76 EPS for the current year.
Wall Street Analyst Weigh In
Separately, Roth Mkm boosted their target price on GigaCloud Technology from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, December 7th.
Check Out Our Latest Report on GCT
About GigaCloud Technology
(
Free Report)
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.
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