A Bullish 2024 Outlook For GCT Semiconductor Holding Inc. (NYSE: GCTS) Shares

GCT Semiconductor Holding Inc. (NYSE:GCTS) shares, rose in value, with the stock price down by -55.74% to the previous day’s close as strong demand from buyers drove the stock to $6.86.

Actively observing the price movement in the last trading, the stock closed the session at $15.50. Referring to stock’s 52-week performance, its high was $56.00, and the low was $6.20. On the whole, GCTS has fluctuated by -36.77% over the past month.

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Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that GCTS’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of GCTS currently trading nearly -51.54% and -42.98% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 44.20, while the 7-day volatility ratio is showing 174.61% which for the 30-day chart, stands at 53.90%. Furthermore, GCT Semiconductor Holding Inc. (GCTS)’s beta value is 0.78, and its average true range (ATR) is 7.03.

A comparison of GCT Semiconductor Holding Inc. (GCTS) with its peers suggests the former has fared considerably weaker in the market. GCTS showed an intraday change of -55.74% in last session, and over the past year, it shrunk by -31.40%%.

Data on historical trading for GCT Semiconductor Holding Inc. (NYSE:GCTS) indicates that the trading volumes over the past 10 days have averaged 0.87 million and over the past 3 months, they’ve averaged 131.28K. According to company’s latest data on outstanding shares, there are 8.62 million shares outstanding.

Nearly 53.15% of GCT Semiconductor Holding Inc.’s shares belong to company insiders and institutional investors own 39.63% of the company’s shares. The stock has fallen by -35.04% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GCTS stock heading into the next quarter.