GigaCloud Technology Inc (NASDAQ: GCT) Surged 7.22%, So What Now?

GigaCloud Technology Inc (NASDAQ:GCT) shares, rose in value, with the stock price up by 7.22% to the previous day’s close as strong demand from buyers drove the stock to $35.65.

Actively observing the price movement in the last trading, the stock closed the session at $33.25. The PE ratio was 15.48 over 12-month period. Referring to stock’s 52-week performance, its high was $45.18, and the low was $4.93. On the whole, GCT has fluctuated by -11.89% over the past month.

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With the market capitalization of GigaCloud Technology Inc currently standing at about $1.45 billion, investors are eagerly awaiting this quarter’s results, scheduled for Mar 15, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.51, which is expected to increase to $0.72 for fiscal year $2.78 and then to about $3.51 by fiscal year 2025. Data indicates that the EPS growth is expected to be 17.30% in 2025, while the next year’s EPS growth is forecast to be 26.30%.

Analysts have estimated the company’s revenue for the quarter at $235 million, with a low estimate of $235 million and a high estimate of $235 million. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $1.11 billion, representing an increase of 57.20% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that GCT’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of GCT currently trading nearly 10.28% and 16.92% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 56.39, while the 7-day volatility ratio is showing 11.19% which for the 30-day chart, stands at 13.69%. Furthermore, GigaCloud Technology Inc (GCT)’s beta value is 2.13, and its average true range (ATR) is 4.09.

A comparison of GigaCloud Technology Inc (GCT) with its peers suggests the former has fared considerably weaker in the market. GCT showed an intraday change of 7.22% in last session, and over the past year, it grew by 465.87%%.

Data on historical trading for GigaCloud Technology Inc (NASDAQ:GCT) indicates that the trading volumes over the past 10 days have averaged 3.39 million and over the past 3 months, they’ve averaged 3.15 million. According to company’s latest data on outstanding shares, there are 31.46 million shares outstanding.

Nearly 59.99% of GigaCloud Technology Inc’s shares belong to company insiders and institutional investors own 14.94% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.6 million shares as on Mar 15, 2024, resulting in a short ratio of 0.89. According to the data, the short interest in GigaCloud Technology Inc (GCT) stood at 6.37% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 2.26 million. The stock has risen by 94.86% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GCT stock heading into the next quarter.