Aptus Capital Advisors LLC Has $2.23 Million Holdings in GigaCloud Technology Inc. (NASDAQ:GCT)

Aptus Capital Advisors LLC increased its holdings in GigaCloud Technology Inc. (NASDAQ:GCT) by 17.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 120,332 shares of the company’s stock after buying an additional 17,752 shares during the period. Aptus Capital Advisors LLC’s holdings in GigaCloud Technology were worth $2,229,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. US Bancorp DE raised its holdings in GigaCloud Technology by 200.0% in the 4th quarter. US Bancorp DE now owns 1,500 shares of the company’s stock valued at $28,000 after acquiring an additional 1,000 shares in the last quarter. Amundi bought a new position in shares of GigaCloud Technology in the fourth quarter worth $45,000. Heck Capital Advisors LLC bought a new stake in GigaCloud Technology during the fourth quarter worth about $79,000. KLP Kapitalforvaltning AS acquired a new stake in GigaCloud Technology during the fourth quarter worth about $89,000. Finally, CreativeOne Wealth LLC bought a new position in GigaCloud Technology in the 4th quarter valued at about $185,000. 34.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GCT has been the subject of a number of recent analyst reports. Roth Mkm downgraded 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, March 4th. Roth Capital cut GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, Lake Street Capital decreased their price target on GigaCloud Technology from $50.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.67.

GigaCloud Technology Price Performance

GCT stock opened at $13.20 on Tuesday. The stock has a market cap of $528.87 million, a price-to-earnings ratio of 4.18 and a beta of 2.16. The company has a 50 day simple moving average of $14.02 and a 200 day simple moving average of $18.80. GigaCloud Technology Inc. has a 1 year low of $11.17 and a 1 year high of $41.31.

GigaCloud Technology (NASDAQ:GCT) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.14). The firm had revenue of $295.78 million during the quarter, compared to the consensus estimate of $290.00 million. GigaCloud Technology had a net margin of 11.75% and a return on equity of 40.32%. During the same quarter in the previous year, the company posted $0.87 earnings per share. On average, equities research analysts anticipate that GigaCloud Technology Inc. will post 3.1 EPS for the current fiscal year.

GigaCloud Technology declared that its board has initiated a stock buyback plan on Wednesday, April 2nd that permits the company to repurchase $16.00 million in shares. This repurchase authorization permits the company to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

About GigaCloud Technology

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.