Zhiwu Chen Sells 1,500 Shares of GigaCloud Technology (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCT) Director Zhiwu Chen sold 1,500 shares of GigaCloud Technology stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $52.38, for a total value of $78,570.00. Following the completion of the transaction, the director owned 25,557 shares of the company’s stock, valued at $1,338,675.66. This trade represents a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Zhiwu Chen also recently made the following trade(s):

• On Wednesday, September 16th, Zhiwu Chen sold 1,500 shares of GigaCloud Technology stock. The shares were sold at an average price of $52.96, for a total value of $79,440.00.

GigaCloud Technology Stock Up 2.9%

Shares of NASDAQ GCT opened at $53.15 on Friday. The stock’s 50 day moving average price is $46.88 and its two-hundred day moving average price is $42.22. GigaCloud Technology Inc. has a 52-week low of $25.39 and a 52-week high of $56.27. The stock has a market capitalization of $1.90 billion, a P/E ratio of 12.57 and a beta of 1.65.

GigaCloud Technology (NASDAQ:GCT) last issued its earnings results on Thursday, August 6th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.90 by $0.26. GigaCloud Technology had a return on equity of 31.42% and a net margin of 10.65%.The company had revenue of $411.64 million during the quarter, compared to analyst estimates of $380.63 million. On average, analysts anticipate that GigaCloud Technology Inc. will post 4.18 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of GigaCloud Technology in a report on Friday, September 4th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

Institutional Trading of GigaCloud Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. KBC Group NV bought a new stake in GigaCloud Technology in the first quarter valued at $1,740,000. Sei Investments Co. bought a new position in shares of GigaCloud Technology during the first quarter worth about $2,786,000. Cetera Investment Advisers grew its position in shares of GigaCloud Technology by 55.2% during the first quarter. Cetera Investment Advisers now owns 53,180 shares of the company’s stock worth $2,413,000 after acquiring an additional 18,914 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of GigaCloud Technology in the 1st quarter worth about $3,576,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in shares of GigaCloud Technology by 407.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 52,774 shares of the company’s stock worth $2,395,000 after acquiring an additional 42,384 shares during the period. 34.94% of the stock is currently owned by institutional investors and hedge funds.

About GigaCloud Technology

GigaCloud Technology Inc operates a business-to-business e-commerce platform focused on large-parcel merchandise. Its GigaCloud Marketplace connects manufacturers, primarily in Asia, with resellers and retailers in North America, Europe and other markets. The platform is designed for products such as furniture, appliances, fitness equipment and other bulky consumer goods that can be more complex to ship and sell through traditional e-commerce channels.

In addition to facilitating transactions, GigaCloud provides integrated services intended to support the order lifecycle, including payments, warehousing, international freight, delivery coordination and last-mile logistics.