Tieton Capital Management LLC Takes Position in GigaCloud Technology Inc. $GCT

Tieton Capital Management LLC acquired a new position in GigaCloud Technology Inc. (NASDAQ:GCT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 197,995 shares of the company’s stock, valued at approximately $6,257,000. GigaCloud Technology accounts for 1.8% of Tieton Capital Management LLC’s holdings, making the stock its 25th largest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. LSV Asset Management boosted its holdings in GigaCloud Technology by 824.2% during the 4th quarter. LSV Asset Management now owns 736,600 shares of the company’s stock valued at $28,934,000 after acquiring an additional 656,900 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in GigaCloud Technology in the 3rd quarter worth approximately $14,335,000. Dimensional Fund Advisors LP increased its stake in GigaCloud Technology by 252.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 472,344 shares of the company’s stock worth $21,424,000 after purchasing an additional 338,269 shares during the period. UBS Group AG lifted its position in GigaCloud Technology by 133.8% in the third quarter. UBS Group AG now owns 441,992 shares of the company’s stock valued at $12,553,000 after purchasing an additional 252,934 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in GigaCloud Technology by 67.7% in the second quarter. JPMorgan Chase & Co. now owns 339,885 shares of the company’s stock valued at $6,723,000 after purchasing an additional 137,201 shares during the last quarter. Institutional investors own 34.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wall Street Zen lowered GigaCloud Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded shares of GigaCloud Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 8th. Finally, Zacks Research lowered shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

GigaCloud Technology Price Performance

Shares of NASDAQ:GCT opened at $52.07 on Thursday. GigaCloud Technology Inc. has a 1 year low of $25.15 and a 1 year high of $56.27. The company has a market cap of $1.86 billion, a PE ratio of 12.31 and a beta of 1.65. The stock’s 50-day moving average is $39.34 and its 200 day moving average is $40.22.

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

Insider Activity at GigaCloud Technology

In related news, CTO Xin Wan sold 60,000 shares of GigaCloud Technology stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $50.94, for a total value of $3,056,400.00. Following the sale, the chief technology officer owned 657,540 shares in the company, valued at $33,495,087.60. The trade was a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Marshall Bernes sold 10,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $53.00, for a total transaction of $530,000.00. Following the transaction, the insider directly owned 53,150 shares in the company, valued at approximately $2,816,950. The trade was a 15.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 75,000 shares of company stock worth $3,845,800 over the last three months. Insiders own 23.37% of the company’s stock.

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.