GigaCloud Technology (NASDAQ:GCT) Issues Earnings Results

GigaCloud Technology (NASDAQ:GCT) posted its earnings results on Monday. The company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.14), Zacks reports. The business had revenue of $295.78 million during the quarter, compared to analysts’ expectations of $290.00 million. GigaCloud Technology had a net margin of 11.75% and a return on equity of 40.32%. During the same period last year, the business posted $0.87 earnings per share. GigaCloud Technology updated its Q1 2025 guidance to EPS.

GigaCloud Technology Stock Down 18.1 %

NASDAQ:GCT opened at $13.86 on Tuesday. The firm has a 50 day moving average of $19.52 and a 200 day moving average of $21.32. GigaCloud Technology has a 52 week low of $15.61 and a 52 week high of $45.18. The stock has a market capitalization of $567.87 million, a price-to-earnings ratio of 4.39 and a beta of 1.94.

Analysts Set New Price Targets

Separately, Roth Mkm cut shares of GigaCloud Technology from a “buy” rating to a “neutral” rating and cut their price target for the stock from $32.00 to $15.00 in a report on Tuesday.

Insider Buying and Selling at GigaCloud Technology

In related news, major shareholder Frank Hurst Lin sold 2,663,076 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $21.80, for a total transaction of $58,055,056.80. Following the completion of the transaction, the insider now owns 1,406,813 shares of the company’s stock, valued at $30,668,523.40. This trade represents a 65.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Xin Wan sold 80,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $22.14, for a total transaction of $1,771,200.00. Following the transaction, the chief technology officer now directly owns 867,540 shares of the company’s stock, valued at approximately $19,207,335.60. This trade represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,811,979 shares of company stock worth $61,233,745. 43.00% of the stock is owned by insiders.

GigaCloud Technology Company Profile

GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise in the United States and internationally. The company offers GigaCloud Marketplace integrates product discovery to payments to logistics tools into one easy-to-use platform. Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia, and Europe to execute cross-border transactions across furniture, home appliance, fitness equipment, and other large parcel categories.