Roth Capital Downgrades GigaCloud Technology (NASDAQ:GCT) to Hold

GigaCloud Technology (NASDAQ:GCT - Get Free Report) was downgraded by research analysts at Roth Capital from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports. Roth Capital also issued estimates for GigaCloud Technology's Q1 2025 earnings at $0.46 EPS, Q2 2025 earnings at $0.64 EPS, Q3 2025 earnings at $0.78 EPS, Q4 2025 earnings at $0.80 EPS, FY2025 earnings at $2.68 EPS and FY2026 earnings at $3.51 EPS.

Other equities analysts have also issued reports about the stock. Lake Street Capital decreased their price objective on shares of GigaCloud Technology from $50.00 to $26.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Roth Mkm cut shares of GigaCloud Technology from a "buy" rating to a "neutral" rating and lowered their target price for the company from $32.00 to $15.00 in a research note on Tuesday, March 4th. Two research 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 data from MarketBeat.com, GigaCloud Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.67.

GigaCloud Technology Price Performance

GCT stock traded up $0.06 on Tuesday, reaching $15.69. 1,706,430 shares of the company traded hands, compared to its average volume of 1,088,009. The firm has a fifty day simple moving average of $19.35 and a 200-day simple moving average of $21.14. The company has a market cap of $642.85 million, a P/E ratio of 4.97 and a beta of 2.05. GigaCloud Technology has a one year low of $13.60 and a one year high of $45.18.

Remove Ads

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.14). The company had revenue of $295.78 million for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.87 earnings per share. On average, sell-side analysts forecast that GigaCloud Technology will post 3.1 EPS for the current year.

Insider Transactions at GigaCloud Technology

In other news, CTO Xin Wan sold 68,437 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $20.43, for a total value of $1,398,167.91. Following the completion of the sale, the chief technology officer now directly owns 1,563 shares in the company, valued at $31,932.09. This represents a 97.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Marshall Bernes bought 5,000 shares of the firm's stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of $17.50 per share, for a total transaction of $87,500.00. Following the completion of the acquisition, the insider now owns 45,000 shares in the company, valued at $787,500. This trade represents a 12.50 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 43.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GCT. Heck Capital Advisors LLC purchased a new position in shares of GigaCloud Technology during the 4th quarter valued at $79,000. JT Stratford LLC bought a new position in shares of GigaCloud Technology in the fourth quarter worth about $1,160,000. PharVision Advisers LLC purchased a new stake in shares of GigaCloud Technology during the fourth quarter worth about $296,000. Connective Capital Management LLC bought a new stake in GigaCloud Technology during the 4th quarter valued at approximately $347,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in GigaCloud Technology by 100.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,418 shares of the company's stock worth $674,000 after purchasing an additional 18,261 shares in the last quarter. 34.94% of the stock is owned by hedge funds and other institutional investors.

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.