GigaCloud Technology (NASDAQ:GCT) Hits New 12-Month High – What’s Next?

GigaCloud Technology Inc. (NASDAQ:GCT) reached a new 52-week high on Thursday . The company traded as high as $37.52 and last traded at $37.32, with a volume of 499742 shares trading hands. The stock had previously closed at $36.78.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GCT shares. Weiss Ratings raised shares of GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, November 21st. Lake Street Capital increased their target price on GigaCloud Technology from $26.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Wall Street Zen downgraded GigaCloud Technology from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Zacks Research cut GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.00.

GigaCloud Technology Price Performance

The business’s 50 day moving average price is $29.46 and its 200-day moving average price is $25.07. The company has a market cap of $1.38 billion, a P/E ratio of 11.17 and a beta of 2.35.

GigaCloud Technology (NASDAQ:GCT) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.34. GigaCloud Technology had a return on equity of 30.43% and a net margin of 10.62%.The business had revenue of $332.64 million for the quarter, compared to analyst estimates of $300.96 million. During the same period in the prior year, the company earned $1.15 EPS. GigaCloud Technology’s revenue for the quarter was up 9.7% on a year-over-year basis. GigaCloud Technology has set its Q4 2025 guidance at EPS. As a group, research analysts forecast that GigaCloud Technology Inc. will post 3.1 EPS for the current year.

GigaCloud Technology declared that its Board of Directors has authorized a share buyback program on Monday, August 18th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other GigaCloud Technology news, COO Xinyan Hao sold 100,000 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $35.18, for a total transaction of $3,518,000.00. Following the transaction, the chief operating officer owned 407,486 shares of the company’s stock, valued at approximately $14,335,357.48. This represents a 19.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lei Wu sold 100,000 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $28.52, for a total value of $2,852,000.00. Following the completion of the transaction, the chief executive officer owned 60,000 shares in the company, valued at $1,711,200. The trade was a 62.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 410,000 shares of company stock worth $12,898,316 over the last quarter. 24.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On GigaCloud Technology

Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. boosted its holdings in GigaCloud Technology by 17.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,705 shares of the company’s stock valued at $54,000 after acquiring an additional 405 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in GigaCloud Technology by 25.6% during the 2nd 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. Stratos Wealth Partners LTD. lifted its position in GigaCloud Technology by 5.6% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 10,945 shares of the company’s stock valued at $217,000 after purchasing an additional 585 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of GigaCloud Technology by 184.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock valued at $27,000 after purchasing an additional 589 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of GigaCloud Technology by 14.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,853 shares of the company’s stock worth $166,000 after buying an additional 759 shares during the period. Institutional investors and hedge funds own 34.94% of the company’s stock.

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.