1 day Ago By ABMN Staff
Legal & General Group Plc boosted its stake in shares of GigaCloud Technology Inc. ( NASDAQ:GCT – Free Report ) by 12.8% during the 4th quarter, Holdings Channel.
com reports. The firm owned 21,685 shares of the company’s stock after buying an additional 2,456 shares during the quarter. Legal & General Group Plc’s holdings in GigaCloud Technology were worth $402,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. US Bancorp DE lifted its position in shares of GigaCloud Technology by 200.0% during the 4th quarter.
US Bancorp DE now owns 1,500 shares of the company’s stock valued at $28,000 after buying an additional 1,000 shares in the last quarter. Amundi bought a new stake in GigaCloud Technology during the 4th quarter worth approximately $45,000. Heck Capital Advisors LLC purchased a new position in GigaCloud Technology during the fourth quarter valued at approximately $79,000.
KLP Kapitalforvaltning AS bought a new position in shares of GigaCloud Technology in the fourth quarter worth approximately $89,000. Finally, Intech Investment Management LLC purchased a new stake in shares of GigaCloud Technology in the fourth quarter worth $189,000. Hedge funds and other institutional investors own 34.
94% of the company’s stock. Analyst Ratings Changes A number of research analysts recently weighed in on GCT shares. Roth Capital cut shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 4th.
Roth Mkm downgraded GigaCloud Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $32.00 to $15.00 in a research report on Tuesday, March 4th.
Finally, Lake Street Capital decreased their target price on GigaCloud Technology from $50.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th.
Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.67.
GigaCloud Technology Price Performance NASDAQ GCT opened at $12.94 on Wednesday. GigaCloud Technology Inc.
has a 1-year low of $11.17 and a 1-year high of $41.31.
The business has a 50 day simple moving average of $14.44 and a two-hundred day simple moving average of $19.17.
The stock has a market capitalization of $518.45 million, a PE ratio of 4.09 and a beta of 2.
12. GigaCloud Technology ( NASDAQ:GCT – Get Free Report ) last announced its earnings results on Monday, March 3rd. The company reported $0.
76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.14).
The business had revenue of $295.78 million for the quarter, compared to analysts’ expectations of $290.00 million.
GigaCloud Technology had a net margin of 11.75% and a return on equity of 40.32%.
During the same quarter in the prior year, the company posted $0.87 earnings per share. On average, analysts anticipate that GigaCloud Technology Inc.
will post 3.1 EPS for the current fiscal year. GigaCloud Technology declared that its board has authorized a stock buyback plan on Wednesday, April 2nd that authorizes the company to buyback $16.
00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.7% of its shares through open market purchases.
Shares buyback plans are often an indication that the company’s board believes its stock is undervalued. GigaCloud Technology Profile ( Free Report ) 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. See Also Want to see what other hedge funds are holding GCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GigaCloud Technology Inc.
( NASDAQ:GCT – Free Report ). Receive News & Ratings for GigaCloud Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GigaCloud Technology and related companies with MarketBeat.com's FREE daily email newsletter .
.
