Virtu Financial LLC Makes New Investment in GigaCloud Technology Inc. (NASDAQ:GCT)

Virtu Financial LLC bought a new stake in GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 38,877 shares of the company's stock, valued at approximately $720,000. Virtu Financial LLC owned about 0.09% of GigaCloud Technology at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of GigaCloud Technology by 279.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 214,569 shares of the company's stock worth $4,931,000 after purchasing an additional 158,033 shares during the last quarter. Great Valley Advisor Group Inc. grew its position in shares of GigaCloud Technology by 133.0% during the third quarter. Great Valley Advisor Group Inc. now owns 25,218 shares of the company's stock worth $580,000 after acquiring an additional 14,396 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in GigaCloud Technology during the 3rd quarter worth $6,956,000. Truvestments Capital LLC increased its position in GigaCloud Technology by 14.6% in the 3rd quarter. Truvestments Capital LLC now owns 17,196 shares of the company's stock valued at $395,000 after acquiring an additional 2,189 shares during the period. Finally, Townsquare Capital LLC increased its holdings in shares of GigaCloud Technology by 4.6% in the third quarter. Townsquare Capital LLC now owns 19,440 shares of the company's stock valued at $447,000 after purchasing an additional 862 shares during the period. 34.94% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of brokerages have weighed in on GCT. Roth Mkm lowered 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 report on Tuesday, March 4th. Roth Capital downgraded GigaCloud Technology from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Finally, Lake Street Capital reduced their price target on shares of GigaCloud Technology from $50.00 to $26.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, GigaCloud Technology has a consensus rating of "Moderate Buy" and an average target price of $36.67.

GigaCloud Technology Trading Down 5.1 %

GigaCloud Technology stock traded down $0.81 during midday trading on Friday, hitting $15.11. The stock had a trading volume of 900,187 shares, compared to its average volume of 1,620,933. The business has a fifty day moving average price of $18.18 and a 200 day moving average price of $20.63. GigaCloud Technology Inc. has a 12 month low of $13.60 and a 12 month high of $41.31. The stock has a market cap of $605.40 million, a P/E ratio of 4.78 and a beta of 2.05.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.14). GigaCloud Technology had a net margin of 11.75% and a return on equity of 40.32%. The company had revenue of $295.78 million for the quarter, compared to analyst estimates of $290.00 million. During the same period in the previous year, the business posted $0.87 EPS. On average, equities analysts anticipate that GigaCloud Technology Inc. will post 3.1 EPS for the current fiscal year.

GigaCloud Technology 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.