Hussman Strategic Advisors Inc. Acquires New Position in GigaCloud Technology Inc. $GCT

Hussman Strategic Advisors Inc. purchased a new position in GigaCloud Technology Inc. (NASDAQ:GCT) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 126,000 shares of the company’s stock, valued at approximately $3,578,000. GigaCloud Technology accounts for about 0.8% of Hussman Strategic Advisors Inc.’s portfolio, making the stock its 15th largest position.

A number of other institutional investors have also made changes to their positions in the stock. James Investment Research Inc. bought a new position in GigaCloud Technology during the third quarter worth about $511,000. PFG Investments LLC bought a new stake in shares of GigaCloud Technology in the 3rd quarter valued at about $232,000. Teacher Retirement System of Texas acquired a new stake in shares of GigaCloud Technology in the 3rd quarter valued at approximately $952,000. Strs Ohio bought a new position in GigaCloud Technology during the 3rd quarter worth approximately $128,000. Finally, Nordea Investment Management AB acquired a new position in GigaCloud Technology during the third quarter valued at approximately $3,852,000. 34.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at GigaCloud Technology

In related news, CEO Lei Wu sold 20,000 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $42.08, for a total value of $841,600.00. Following the sale, the chief executive officer owned 800,000 shares in the company, valued at approximately $33,664,000. This represents a 2.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Xinyan Hao sold 100,000 shares of GigaCloud Technology stock in a transaction on Friday, November 21st. The stock was sold at an average price of $35.18, for a total transaction of $3,518,000.00. Following the transaction, the chief operating officer directly owned 407,486 shares of the company’s stock, valued at approximately $14,335,357.48. This trade represents a 19.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 451,229 shares of company stock valued at $16,223,189 over the last quarter. 24.71% of the stock is currently owned by corporate insiders.

GigaCloud Technology Trading Down 9.0%

GigaCloud Technology stock opened at $38.25 on Wednesday. GigaCloud Technology Inc. has a 1-year low of $11.17 and a 1-year high of $44.71. The company has a fifty day simple moving average of $39.40 and a 200 day simple moving average of $31.70. The company has a market cap of $1.42 billion, a P/E ratio of 11.45 and a beta of 2.28.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GCT shares. 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. Zacks Research lowered GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Wall Street Zen upgraded GigaCloud Technology from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, GigaCloud Technology currently has an average rating of “Hold” and a consensus price target of $24.00.

GigaCloud Technology Profile

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.