Hussman Strategic Advisors Inc. Invests $3.58 Million in GigaCloud Technology Inc. $GCT

Hussman Strategic Advisors Inc. acquired a new position in GigaCloud Technology Inc. (NASDAQ:GCT) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 126,000 shares of the company’s stock, valued at approximately $3,578,000. GigaCloud Technology makes up 0.8% of Hussman Strategic Advisors Inc.’s portfolio, making the stock its 15th largest position. Hussman Strategic Advisors Inc. owned about 0.33% of GigaCloud Technology at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. James Investment Research Inc. purchased a new stake in GigaCloud Technology in the 3rd quarter worth approximately $511,000. PFG Investments LLC acquired a new position in shares of GigaCloud Technology in the third quarter worth $232,000. Teacher Retirement System of Texas purchased a new stake in shares of GigaCloud Technology during the third quarter worth $952,000. Strs Ohio acquired a new stake in GigaCloud Technology during the third quarter valued at $128,000. Finally, Nordea Investment Management AB acquired a new stake in GigaCloud Technology during the third quarter valued at $3,852,000. Hedge funds and other institutional investors own 34.94% of the company’s stock.

GigaCloud Technology Trading Down 9.0%

Shares of GigaCloud Technology stock opened at $38.25 on Wednesday. GigaCloud Technology Inc. has a 1 year low of $11.17 and a 1 year high of $44.71. The company’s fifty day simple moving average is $39.40 and its 200-day simple moving average is $31.70. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 11.45 and a beta of 2.28.

GigaCloud Technology (NASDAQ:GCT) last released its earnings results on Thursday, November 6th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.34. The business had revenue of $332.64 million for the quarter, compared to the consensus estimate of $300.96 million. GigaCloud Technology had a return on equity of 30.43% and a net margin of 10.62%.The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $1.15 earnings per share. As a group, research analysts forecast that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.

Insider Activity at GigaCloud Technology

In other news, COO Xinyan Hao sold 800 shares of GigaCloud Technology stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $40.04, for a total value of $32,032.00. Following the completion of the transaction, the chief operating officer owned 357,486 shares in the company, valued at approximately $14,313,739.44. The trade was a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lei Wu sold 20,000 shares of GigaCloud Technology stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $40.78, for a total value of $815,600.00. Following the completion of the transaction, the chief executive officer owned 678,090 shares of the company’s stock, valued at approximately $27,652,510.20. The trade was a 2.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 451,229 shares of company stock worth $16,223,189. Corporate insiders own 24.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wall Street Zen upgraded GigaCloud Technology from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Weiss Ratings downgraded shares of GigaCloud Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Finally, Zacks Research downgraded shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $24.00.

About GigaCloud Technology

GigaCloud Technology Inc (NASDAQ:GCT) is a China-based provider of software-as-a-service (SaaS) and cloud computing solutions tailored for cross-border e-commerce. The company’s core offering, its Supply Chain Embedded E-commerce as a Service (SCEaaS) platform, integrates procurement, order management, warehousing, logistics and payment services into a unified cloud-based system. This end-to-end digital supply chain solution is designed to help small and medium-sized Chinese exporters efficiently connect with global buyers without the need to build and maintain their own infrastructure.

Through its modular, subscription-based SaaS model, GigaCloud enables merchants to scale operations on demand and minimize upfront capital expenditures.