GigaCloud Technology (NASDAQ:GCT) Downgraded to “Hold” Rating by Wall Street Zen

GigaCloud Technology (NASDAQ:GCT) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other brokerages have also weighed in on GCT. Zacks Research upgraded GigaCloud Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Lake Street Capital lifted their target price on GigaCloud Technology from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of GigaCloud Technology in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, GigaCloud Technology has an average rating of “Moderate Buy” and a consensus price target of $24.00.

GigaCloud Technology Stock Up 2.0%

Shares of NASDAQ GCT opened at $28.34 on Friday. GigaCloud Technology has a fifty-two week low of $11.17 and a fifty-two week high of $34.50. The business has a 50 day moving average price of $28.38 and a two-hundred day moving average price of $22.05. The firm has a market cap of $1.07 billion, a PE ratio of 8.51 and a beta of 2.36.

GigaCloud Technology (NASDAQ:GCT) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.45. GigaCloud Technology had a return on equity of 32.33% and a net margin of 11.17%.The firm had revenue of $322.61 million during the quarter, compared to analyst estimates of $290.08 million. During the same quarter last year, the firm earned $1.03 EPS. GigaCloud Technology’s quarterly revenue was up 3.8% on a year-over-year basis. GigaCloud Technology has set its Q3 2025 guidance at EPS. On average, analysts anticipate that GigaCloud Technology will post 3.1 earnings per share for the current year.

GigaCloud Technology declared that its board has initiated a share buyback plan on Monday, August 18th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at GigaCloud Technology

In related news, CEO Lei Wu sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $28.52, for a total transaction of $2,852,000.00. Following the completion of the transaction, the chief executive officer owned 60,000 shares in the company, valued at $1,711,200. The trade was a 62.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Marshall Bernes sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $31.29, for a total value of $500,640.00. The disclosure for this sale can be found here. Insiders sold 133,742 shares of company stock worth $3,894,255 in the last 90 days. 24.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GCT. Nuveen LLC acquired a new position in GigaCloud Technology during the 1st quarter valued at approximately $6,502,000. Pacer Advisors Inc. acquired a new position in GigaCloud Technology during the 1st quarter valued at approximately $4,806,000. JPMorgan Chase & Co. boosted its position in GigaCloud Technology by 67.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 339,885 shares of the company’s stock valued at $6,723,000 after purchasing an additional 137,201 shares during the period. AQR Capital Management LLC raised its stake in GigaCloud Technology by 355.1% during the 1st quarter. AQR Capital Management LLC now owns 99,669 shares of the company’s stock valued at $1,415,000 after acquiring an additional 77,769 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in GigaCloud Technology during the 1st quarter valued at $981,000. Institutional investors and hedge funds own 34.94% of the company’s stock.

About GigaCloud Technology

GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise in the United States and internationally. The company offers GigaCloud Marketplace integrates product discovery to payments to logistics tools into one easy-to-use platform. Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia, and Europe to execute cross-border transactions across furniture, home appliance, fitness equipment, and other large parcel categories.