As of Friday close, GigaCloud Technology Inc.’s (NASDAQ:GCT) stock was down -$0.35, moving down -2.94 percent to $11.54. The average number of shares traded per day over the past five days has been 1,050,960 shares. 3 times new highs have been achieved over the past 5 days, with a $0.82 gain in that time frame. In the last twenty days, the average volume was 520,315, while in the previous 50 days, it was 462,078.
Since last month, GCT stock rose 38.70%. Shares of the company fell to $7.99 on 07/24/23, the lowest level in the past month. A 52-week high of $62.00 was reached on 08/16/23 after having rallying from a 52-week low of $4.14. Since the beginning of this year, GCT’s stock price has risen by 102.81% or $5.85, and marked a new high 5 times. However, the stock has declined by -81.39% since its 52-week high.
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Valuation Metrics
Right now, GigaCloud Technology Inc. (GCT) has a P/E ratio of about 17.95. The stock’s beta is 0.93. Besides these, the trailing price-to-sales (P/S) ratio of 0.79, the price-to-book (PB) ratio of 2.22, and the price-to-cash flow ratio of 4.76 may also be considered.
Financial Health
In the three months ended June 29, GigaCloud Technology Inc.’s quick ratio stood at 1.80, while its current ratio was 2.50, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 19.00% percent. In the year ended June 29, operating margins totaled 9.20%. Based on annual data, GCT earned $83.11 million in gross profit and brought in $490.07 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 14.50%. Return on equity (ROE) for the past 12 months was 15.20%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. GCT’s revenue rose 100.0% during the quarter, while net income inched up to $490.07 million. While analysts expected GigaCloud Technology Inc. to report $0.37 quarterly earnings, the actual figure was $0.45 per share, beating the consensus estimate by 21.60%. During the quarter, the company generated $23.4 million in EBITDA. The liabilities of GigaCloud Technology Inc. were 224.04 million at the end of its most recent quarter ended June 29.
Technical Picture
This quick technical analysis looks at GigaCloud Technology Inc.’s (GCT) price momentum. With a historical volatility rate of 78.10%, the RSI 9-day stood at 71.29% on 18 August.
With respect to its five-day moving average, the current GigaCloud Technology Inc. price is up by +7.65% percent or $0.82. At present, GCT shares trade +32.64% above its 20-day simple moving average and +112.13% percent above its 100-day simple moving average. However, the stock is currently trading approximately +64.86% above its SMA50 and +146.58% above its SMA200.
Stochastic coefficient K was 81.63% and Stochastic coefficient D was 78.05%, while ATR was 0.96. Given the Stochastic reading of 77.87% for the 14-day period, the RSI (14) reading has been calculated as 70.11%. As of today, the MACD Oscillator reading stands at 0.90, while the 14-day reading stands at 1.49.
Analyst Ratings
ROTH MKM launched its rating on GigaCloud Technology Inc. (NASDAQ: GCT) to a Buy in a note to investors on June 16, 2023. GigaCloud Technology Inc. (GCT) has been rated Buy by analysts. According to 0 brokerage firms, GCT is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate GigaCloud Technology Inc. stock as buy, with 2 recommending it as overweight.
With a median target price of $21.00, the current consensus forecast for the stock is $16.00 – $26.00. Based on these forecasts, analysts predict GigaCloud Technology Inc. (GCT) will achieve an average price target of $21.00.
