GigaCloud Technology Inc (NASDAQ:GCT) price closed lower on Tuesday, March 26, dropping -7.61% below its previous close.
A look at the daily price movement shows that the last close reads $27.71. The company’s P/E ratio in the trailing 12-month period read 11.12. Taking into account the 52-week price action we note that the stock hit a 52-week high of $45.18 and 52-week low of $4.93. The stock subtracted -23.41% on its value in the past month.
GigaCloud Technology Inc, which has a market valuation of $1.04 billion, is expected to release its quarterly earnings report Mar 15, 2024. Analysts tracking GCT have forecast the quarterly EPS to grow by 0.37 per share this quarter, while the same analysts predict the annual EPS to hit $2.59 for the year 2024 and up to $3.38 for 2025. In this case, analysts estimate an annual EPS growth of 9.30% for the year and 30.50% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $210.2 million, with the likely lows of $210.2 million and highs of $210.2 million. Staying with the analyst view, there is a consensus estimate of $1.11 billion for the company’s annual revenue in 2024. Per this projection, the revenue is forecast to grow 57.30% above that which the company brought in 2024.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give GCT a short term outlook of 50% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.
The overview shows that GCT’s price is at present -25.84% off the SMA20 and -13.95% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 41.69, with weekly volatility standing at 10.70%. The indicator jumps to 13.15% when calculated based on the past 30 days. GigaCloud Technology Inc (NASDAQ:GCT)’s beta value is holding at 2.32, while the average true range (ATR) indicator is currently reading 4.38.
An analysis of the GigaCloud Technology Inc (NASDAQ:GCT) stock in terms of its daily trading volume indicates that the 3-month average is 3.11 million. However, this figure increases on the past 10-day timeline to an average of 4.51 million.
Current records show that the company has 31.46M in outstanding shares. The insiders’ percentage holdings are 57.01% of outstanding shares while the percentage share held by institutions stands at 14.81%. The stats also highlight that short interest as of Feb 29, 2024, stood at 2.53 million shares, which puts the short ratio at the time at 0.99. From this we can glean that short interest is 6.22% of company’s current outstanding shares. Notably, we see that shares short in February rose slightly given the previous month’s figure stood at 1.81 million. But the 39.93% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
