Y Intercept Hong Kong Ltd Has $2.40 Million Stake in GigaCloud Technology Inc. $GCT

Y Intercept Hong Kong Ltd grew its stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT) by 407.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 52,774 shares of the company’s stock after purchasing an additional 42,384 shares during the period. Y Intercept Hong Kong Ltd’s holdings in GigaCloud Technology were worth $2,395,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new position in shares of GigaCloud Technology during the third quarter valued at approximately $29,000. Larson Financial Group LLC purchased a new stake in GigaCloud Technology in the 3rd quarter valued at $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in GigaCloud Technology in the 3rd quarter valued at $30,000. Wealth Enhancement Advisory Services LLC bought a new position in GigaCloud Technology during the 4th quarter valued at $44,000. Finally, Tower Research Capital LLC TRC lifted its stake in GigaCloud Technology by 25.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company’s stock valued at $47,000 after acquiring an additional 483 shares in the last quarter. 34.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GCT. Zacks Research lowered shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Wall Street Zen cut shares of GigaCloud Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Weiss Ratings downgraded shares of GigaCloud Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, GigaCloud Technology currently has an average rating of “Hold” and a consensus price target of $33.00.

GigaCloud Technology Stock Performance

NASDAQ GCT opened at $33.74 on Thursday. The company has a market capitalization of $1.24 billion, a PE ratio of 8.48 and a beta of 1.72. GigaCloud Technology Inc. has a 52-week low of $19.95 and a 52-week high of $51.86. The company has a 50-day simple moving average of $35.89 and a 200 day simple moving average of $39.64.

GigaCloud Technology (NASDAQ:GCT) last released its earnings results on Friday, May 8th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.17. GigaCloud Technology had a net margin of 10.77% and a return on equity of 31.48%. The firm had revenue of $359.49 million for the quarter, compared to analysts’ expectations of $342.57 million. During the same period in the previous year, the company earned $0.68 earnings per share. The company’s quarterly revenue was up 32.2% on a year-over-year basis. As a group, analysts forecast that GigaCloud Technology Inc. will post 4.18 EPS for the current fiscal 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.