GigaCloud Technology Inc. (NASDAQ:GCT) President Iman Aj Schrock Sells 5,000 Shares

GigaCloud Technology Inc. (NASDAQ:GCT) President Iman Aj Schrock sold 5,000 shares of GigaCloud Technology stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $30.21, for a total transaction of $151,050.00. Following the sale, the president now directly owns 25,000 shares of the company’s stock, valued at $755,250. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

GigaCloud Technology Stock Down 1.8 %

GigaCloud Technology stock opened at $31.44 on Wednesday. The company has a market capitalization of $1.28 billion, a PE ratio of 12.23 and a beta of 1.81. The firm has a fifty day simple moving average of $32.97 and a two-hundred day simple moving average of $29.73. GigaCloud Technology Inc. has a twelve month low of $6.70 and a twelve month high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.33. GigaCloud Technology had a net margin of 12.74% and a return on equity of 41.24%. The firm had revenue of $251.08 million for the quarter, compared to analysts’ expectations of $235.00 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. As a group, equities analysts expect that GigaCloud Technology Inc. will post 3.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GigaCloud Technology

Hedge funds have recently modified their holdings of the company. CWM LLC purchased a new position in shares of GigaCloud Technology in the fourth quarter valued at about $30,000. Quarry LP purchased a new position in shares of GigaCloud Technology in the fourth quarter valued at about $47,000. Tucker Asset Management LLC increased its position in shares of GigaCloud Technology by 1,499.8% in the fourth quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock valued at $146,000 after acquiring an additional 7,499 shares during the period. Foundations Investment Advisors LLC purchased a new position in shares of GigaCloud Technology in the fourth quarter valued at about $207,000. Finally, Avantax Advisory Services Inc. purchased a new position in shares of GigaCloud Technology in the fourth quarter valued at about $226,000. Hedge funds and other institutional investors own 34.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Maxim Group assumed coverage on shares of GigaCloud Technology in a report on Wednesday, May 22nd. They set a “buy” rating and a $69.00 price objective for the company. Roth Mkm boosted their price target on shares of GigaCloud Technology from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd.

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.