The trading price of GigaCloud Technology Inc (NASDAQ:GCT) closed higher on Thursday, March 29, closing at $26.72, 2.14% higher than its previous close.
The company’s P/E ratio in the trailing 12-month period was 11.60. In examining the 52-week price action we see that the stock hit a 52-week high of $45.18 and a 52-week low of $4.93. Over the past month, the stock has lost -21.48% in value.
GigaCloud Technology Inc, whose market valuation is $1.09 billion at the time of this writing, is expected to release its quarterly earnings report Mar 15, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.37 per share this quarter, however they have predicted annual earnings per share of $2.59 for 2024 and $3.38 for 2025. It means analysts are expecting annual earnings per share growth of 9.30% this year and 30.50% next year.
Analysts have forecast the company to bring in revenue of $210.2 million for the current quarter, with the likely lows of $210.2 million and highs of $210.2 million. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $1.11 billion. The company’s revenue is forecast to grow by 57.30% over what it did in 2024.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of GigaCloud Technology Inc No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest GCT has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
A quick review shows that GCT’s price is currently -20.61% off the SMA20 and -10.82% off the SMA50. The RSI metric on the 14-day chart is currently showing 43.51, and weekly volatility stands at 8.85%. When measured over the past 30 days, the indicator reaches 13.17%. GigaCloud Technology Inc (NASDAQ:GCT)’s beta value is currently sitting at 2.25, while the Average True Range indicator is currently displaying 4.09.
To see how GigaCloud Technology Inc stock has been performing in comparison to its peers in the industry, here are the numbers: GCT stock’s performance was 2.14% in the latest trading, and 399.44% in the past year. GigaCloud Technology Inc has a P/E ratio of 11.60.
An evaluation of the daily trading volume of GigaCloud Technology Inc (NASDAQ:GCT) indicates that the 3-month average is 3.12 million. However, this figure has increased over the past 10 days to an average of 4.52 million.
Currently, records show that 31.46 million of the company’s shares remain outstanding. The insiders hold 57.04% of outstanding shares, whereas institutions hold 14.94%. The stats also highlight that short interest as of Mar 15, 2024, stood at 2.6 million shares, resulting in a short ratio of 0.89 at that time. From this, we can conclude that short interest is 6.37% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 2.26 million. However, since the stock’s price has seen 46.05% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
