Stocks of GigaCloud Technology Inc (NASDAQ:GCT) traded higher last session on Wall Street, up 8.45% to $32.35.
GCT stock price is now -4.78% away from the 50-day moving average and 54.14% away from the 200-day moving average. The market capitalization of the company currently stands at $1.32B.
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With the price target of $69, Maxim Group recently initiated with Buy rating for GigaCloud Technology Inc (NASDAQ: GCT). On June 16, 2023, ROTH MKM recently initiated its ‘Buy’ rating on the stock quoting a target price of $13, while ‘Aegis Capital’ rates the stock as ‘Buy’
In other news, Lin Frank Hurst, Director sold 149,864 shares of the company’s stock on May 17 ’24. The stock was sold for $5,600,807 at an average price of $37.37. Upon completion of the transaction, the Director now directly owns 5,245,067 shares in the company, valued at $169.68 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 17 ’24, Chief Executive Officer Wu Lei sold 14,190 shares of the business’s stock. A total of $523,325 was realized by selling the stock at an average price of $36.88. This leaves the insider owning 100,000 shares of the company worth $3.23 million. A total of 52.77% of the company’s stock is owned by insiders.
During the past 12 months, GigaCloud Technology Inc has had a low of $5.40 and a high of $45.18. As of last week, the company has a debt-to-equity ratio of 1.48, a current ratio of 1.83, and a quick ratio of 1.09. The fifty day moving average price for GCT is $33.8639 and a two-hundred day moving average price translates $21.10025 for the stock.
The latest earnings results from GigaCloud Technology Inc (NASDAQ: GCT) was released for 2024-03-31. The net profit margin was 12.74% and return on equity was 39.82% for GCT. The company reported revenue of $251.08 million for the quarter, compared to $127.8 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 96.47 percent.
