GigaCloud Technology Inc. (NASDAQ:GCT) Short Interest Update

GigaCloud Technology Inc. (NASDAQ:GCT) saw a significant decrease in short interest in August. As of August 15th, there was short interest totaling 3,120,000 shares, a decrease of 22.4% from the July 31st total of 4,020,000 shares. Based on an average daily volume of 815,000 shares, the days-to-cover ratio is presently 3.8 days. Approximately 12.6% of the company’s shares are short sold. Approximately 12.6% of the company’s shares are short sold. Based on an average daily volume of 815,000 shares, the days-to-cover ratio is presently 3.8 days.

GigaCloud Technology Stock Performance

Shares of GigaCloud Technology stock opened at $29.86 on Wednesday. GigaCloud Technology has a one year low of $11.17 and a one year high of $34.50. The business’s 50 day moving average price is $25.04 and its 200 day moving average price is $19.07. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 8.97 and a beta of 2.37.

GigaCloud Technology (NASDAQ:GCT) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.45. The firm had revenue of $322.61 million during the quarter, compared to analyst estimates of $290.08 million. GigaCloud Technology had a net margin of 11.17% and a return on equity of 32.33%. GigaCloud Technology’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. 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 announced that its board has initiated a share repurchase plan on Monday, August 18th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other GigaCloud Technology news, insider Marshall Bernes sold 16,000 shares of GigaCloud Technology stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $31.29, for a total transaction of $500,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Thrivent Financial for Lutherans acquired a new stake in GigaCloud Technology during the 2nd quarter worth approximately $847,000. Tower Research Capital LLC TRC boosted its holdings in GigaCloud Technology by 25.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company’s stock valued at $47,000 after purchasing an additional 483 shares during the period. BNP Paribas Financial Markets grew its stake in GigaCloud Technology by 80.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 14,945 shares of the company’s stock worth $296,000 after purchasing an additional 6,643 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in GigaCloud Technology by 0.8% during the 2nd quarter. Bridgeway Capital Management LLC now owns 380,656 shares of the company’s stock worth $7,529,000 after purchasing an additional 3,023 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in GigaCloud Technology by 13.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 90,238 shares of the company’s stock worth $1,787,000 after purchasing an additional 11,034 shares during the period. Hedge funds and other institutional investors own 34.94% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on GCT. Wall Street Zen downgraded shares of GigaCloud Technology from a “buy” rating to a “hold” rating in a research report on Sunday. Zacks Research upgraded GigaCloud Technology from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 19th. Finally, Lake Street Capital increased their price objective on shares of GigaCloud Technology from $26.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, GigaCloud Technology presently has an average rating of “Hold” and an average target price of $24.00.

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.