The stock of GigaCloud Technology Inc. (NASDAQ:GCT) increased by $0.92 on Wednesday to $11.06, up 9.08 percent. The last five days have seen an average of 512,649 shares of common stock traded. The average number of shares traded over the last 20 days was 377,787, while the average volume over the last 50 days totaled 415,811.
GCT stock appreciated 34.07% since last month. On 07/17/23, the company’s shares reached a one-month low of $7.50. The stock touched a high of $62.00, after rallying from a low of $4.14 in 52 weeks. The price of GCT stock has risen by 94.40% or $5.01 this year, reaching a new high 5 times. Still, the stock price is down -82.16% from the 52-week high.
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Valuation Metrics
GigaCloud Technology Inc. (GCT) has a trailing price-to-earnings (P/E) ratio of 17.20. Beta for the stock is 1.39. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.76, the price-to-book (PB) ratio of 2.13, and the price-to-cash flow ratio of 4.56.
Financial Health
For the three months ended June 29, GigaCloud Technology Inc.’s quick ratio was 1.80, while its current ratio was 2.50, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 19.00% percent. GigaCloud Technology Inc.’s operating margin stood at 9.20% for the same period. Based on annual data, it had gross profit of $83.11 million and revenue of $490.07 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. GCT’s return on assets (ROA) during the last 12 months has been 6.70%. There was a 14.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 15.20%.
Earnings Surprise
According to GigaCloud Technology Inc.’s quarterly financial report for the quarter that ended June 29. Net income for the quarter came in at $490.07 million, while revenues rose by 100.0% to $0.0. It was predicted that GigaCloud Technology Inc.’s quarterly earnings would be $0.45, but it ended up being $0.37, beating the consensus by 21.60%.
Technical Picture
Here’s a quick look at GigaCloud Technology Inc.’s (GCT) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 70.08%, suggesting the stock is Overbought, with a 56.40% historical volatility rate.
The stochastic %K and %D were 67.31% and 75.41% respectively, while the average true range (ATR) was 0.98. Based on the 14-day stochastic reading of 59.77%, the RSI (14) reading is 68.38%. On the 9-day MACD Oscillator, the stock is at 0.28, and the 14-day reading is at 0.72.
Analyst Ratings
In its analyst report released on June 16, 2023, ROTH MKM began covering GigaCloud Technology Inc. (NASDAQ: GCT). The stock was rated as a Buy by the brokerage firm. Analysts have assigned GigaCloud Technology Inc. (GCT) an Buy rating. GCT is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.
What is GCT’s price target for the next 12 months?
The current consensus forecast for the stock is between $16.00 and $26.00, with a median target price of $21.00. In analyzing these forecasts, the average price target given by analysts for GigaCloud Technology Inc. (GCT) is $21.00.
