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Is Now A Good Time To Invest In GigaCloud Technology Inc. (NASDAQ: GCT)?

GigaCloud Technology Inc. (NASDAQ:GCT) shares, rose in value on Wednesday, 05/24/23, with the stock price up by 26.50% to the previous day’s close as strong demand from buyers drove the stock to $7.16.

Actively observing the price movement in the last trading, the stock closed the session at $5.66, falling within a range of $7.03 and $11.78. The PE ratio was 19.89 over 12-month period. Referring to stock’s 52-week performance, its high was $62.00, and the low was $4.14. On the whole, GCT has fluctuated by 35.09% over the past month.

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With the market capitalization of GigaCloud Technology Inc. currently standing at about $250.10 million, investors are eagerly awaiting this quarter’s results, scheduled for May 24, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0, which is expected to increase to $0 for fiscal year $0.73 and then to about $0 by fiscal year 2024.

Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $533.39 million, representing an increase of 8.80% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of GCT currently trading nearly 34.88% and 30.99% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 76.40, while the 7-day volatility ratio is showing 16.81% which for the 30-day chart, stands at 8.83%. Furthermore, GigaCloud Technology Inc. (GCT)’s average true range (ATR) is 0.70. The company’s stock has been forecasted to trade at an average price of $26.00 over the course of the next 52 weeks, with a low of $26.00 and a high of $26.00. Based on these price targets, the low is -263.13% off current price, whereas the price has to move -263.13% to reach the yearly target high. Additionally, analysts’ median price of $26.00 is likely to be welcomed by investors because it represents a decrease of -263.13% from the current levels.

Data on historical trading for GigaCloud Technology Inc. (NASDAQ:GCT) indicates that the trading volumes over the past 10 days have averaged 3.25 million and over the past 3 months, they’ve averaged 141.77K. According to company’s latest data on outstanding shares, there are 42.00 million shares outstanding.

Nearly 52.32% of GigaCloud Technology Inc.’s shares belong to company insiders and institutional investors own 25.60% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.12 million shares as on Apr 27, 2023, resulting in a short ratio of 1.21. According to the data, the short interest in GigaCloud Technology Inc. (GCT) stood at 0.30% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 0.14 million. The stock has risen by 25.83% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GCT stock heading into the next quarter.

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