17,990 Shares in GigaCloud Technology Inc. $GCT Purchased by James Investment Research Inc.

James Investment Research Inc. bought a new stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 17,990 shares of the company’s stock, valued at approximately $511,000.

A number of other hedge funds have also recently added to or reduced their stakes in GCT. Geode Capital Management LLC increased its holdings in GigaCloud Technology by 9.1% in the second quarter. Geode Capital Management LLC now owns 630,805 shares of the company’s stock valued at $12,479,000 after buying an additional 52,415 shares in the last quarter. Franklin Resources Inc. grew its position in shares of GigaCloud Technology by 1.0% during the 2nd quarter. Franklin Resources Inc. now owns 407,960 shares of the company’s stock valued at $8,069,000 after acquiring an additional 4,163 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of GigaCloud Technology by 0.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 380,656 shares of the company’s stock valued at $7,529,000 after purchasing an additional 3,023 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in GigaCloud Technology by 67.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 339,885 shares of the company’s stock worth $6,723,000 after purchasing an additional 137,201 shares during the period. Finally, Empowered Funds LLC raised its holdings in GigaCloud Technology by 1.5% in the 2nd quarter. Empowered Funds LLC now owns 201,956 shares of the company’s stock worth $3,995,000 after purchasing an additional 3,023 shares during the period. 34.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GCT has been the subject of a number of recent analyst reports. Wall Street Zen upgraded GigaCloud Technology from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Weiss Ratings cut 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 research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, GigaCloud Technology has a consensus rating of “Hold” and a consensus price target of $24.00.

Insider Activity

In related news, COO Xinyan Hao sold 800 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $40.04, for a total value of $32,032.00. Following the completion of the sale, the chief operating officer owned 357,486 shares of the company’s stock, valued at approximately $14,313,739.44. This trade represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lei Wu sold 20,000 shares of GigaCloud Technology stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $40.78, for a total value of $815,600.00. Following the transaction, the chief executive officer owned 678,090 shares in the company, valued at approximately $27,652,510.20. The trade was a 2.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 468,168 shares of company stock valued at $16,731,529. 24.71% of the stock is owned by corporate insiders.

GigaCloud Technology Stock Performance

Shares of GCT opened at $42.04 on Tuesday. The stock has a 50 day moving average price of $39.26 and a 200 day moving average price of $31.58. GigaCloud Technology Inc. has a one year low of $11.17 and a one year high of $44.71. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 12.59 and a beta of 2.28.

GigaCloud Technology (NASDAQ:GCT) last announced its earnings results on Thursday, November 6th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.34. The company had revenue of $332.64 million for the quarter, compared to analysts’ expectations of $300.96 million. GigaCloud Technology had a net margin of 10.62% and a return on equity of 30.43%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.15 EPS. On average, analysts predict that GigaCloud Technology Inc. will post 3.1 earnings per share for the current year.

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.