IPO Year: 2022
Exchange: NASDAQ
Date | Price Target | Rating | Analyst |
---|---|---|---|
7/29/2024 | $50.00 | Buy | Lake Street |
5/22/2024 | $69.00 | Buy | Maxim Group |
6/16/2023 | $13.00 | Buy | ROTH MKM |
8-K - GigaCloud Technology Inc (0001857816) (Filer)
8-K - GigaCloud Technology Inc (0001857816) (Filer)
10-Q - GigaCloud Technology Inc (0001857816) (Filer)
8-K - GigaCloud Technology Inc (0001857816) (Filer)
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Lake Street initiated coverage of GigaCloud Technology Inc. with a rating of Buy and set a new price target of $50.00
Maxim Group initiated coverage of GigaCloud Technology Inc. with a rating of Buy and set a new price target of $69.00
ROTH MKM initiated coverage of GigaCloud Technology Inc. with a rating of Buy and set a new price target of $13.00
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EL MONTE, Calif., Sept. 03, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced that its board of directors has approved a share repurchase program to repurchase up to $46 million of its Class A ordinary shares over the next 12 months. "We believe our shares present a compelling opportunity at their current price, and share repurchases will represent a value-enhancing deployment of capital for GigaCloud and its shareholders," said Larry Wu, Founder and Chief Executive Officer of GigaCloud. "While we anticipate continued industry-wide economic hea
EL MONTE, Calif., Aug. 08, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced the resignation of David Lau, Chief Financial Officer, to pursue other business interests effective August 19, 2024. Erica Wei, the Company's Vice President of Finance, will serve as interim Chief Financial Officer starting August 19, 2024. Lau will stay as an advisor to the Company until September 19, 2024 to assist with the transition of his duties. The appointment of Wei as interim Chief Financial Officer takes effect on the second anniversary of the Company's initi
-- Total Revenues More Than Doubled, Reaching a Record High Significant Growth in Adjusted EBITDA Reflects Enhanced Operational Efficiency and Profitability -- EL MONTE, Calif., Aug. 06, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced financial results for the second quarter and six months ended June 30, 2024, including continued robust growth in revenues, gross profit, and net income over the comparable period last year. Second Quarter 2024 Financial Highlights Total revenues of $310.9 million grew 103.1% from $153.1 million in t
EL MONTE, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced that it will report its unaudited financial results for the second quarter and six months ended June 30, 2024 after the market closes on Tuesday, August 6, 2024. The Company will host a conference call to discuss its financial results on Wednesday, August 7, at 8:00 AM Eastern Time. To access the conference call, participants should pre-register here to receive the dial-in information and a unique PIN. All participants are encouraged to dial-in 15 minutes prior to the
EL MONTE, Calif., July 01, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced that it has been added to the Russell 2000® Index effective June 28, 2024, after the U.S. market close. "Being included in the Russell 2000 Index signifies GigaCloud's significant growth and the progress we have made over the last year," said Larry Wu, Founder, Chairman, and Chief Executive Officer of GigaCloud. "We take great pride in achieving this milestone, which will enhance the Company's visibility within the investment community as we continue to solidify
EL MONTE, Calif., June 17, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced that its Founder, Chairman, and Chief Executive Officer, Larry Wu, has been named an Entrepreneur Of The Year® 2024 Greater Los Angeles Award winner by Ernst & Young LLP ("EY US"). Now in its 38th year, Entrepreneur Of The Year is a distinguished competitive awards program for entrepreneurs and leaders of high-growth companies. Mr. Wu was selected by an independent judging panel made up of previous award winners, leading CEOs, and other business leaders. Candidates wer
EL MONTE, Calif., May 23, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today issued the following statement in response to the claims made in a report by Grizzly Research LLC, a short-seller, issued on May 22, 2024. The short-seller report lacks merit and contains numerous defamatory, selective, inaccurate, incomplete and misleading statements, speculation, and innuendo. The report demonstrates a fundamental lack of understanding of the Company's business particularly with respect to the types of buyers who use our marketplace and the services we
-- Revenue Nearly Doubled and Hit Record High; Further Accelerated GigaCloud Marketplace Across all Metrics -- EL MONTE, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced financial results for the first quarter ended March 31, 2024, including substantial growth in revenue, gross profit, and net income over the comparable prior year period. First Quarter 2024 Financial Highlights Total revenues of $251.1 million, increased 96.5% from $127.8 million in the first quarter of 2023.Gross profit of $6
EL MONTE, Calif., May 02, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced that it will report its unaudited financial results for the first quarter ended March 31, 2024 before the market opens on Thursday, May 9, 2024. The Company will host a conference call to discuss its financial results on the same day at 8:00 AM Eastern Time. To access the conference call, participants should pre-register here to receive the dial-in information and a unique PIN. All participants are encouraged to dial-in 15 minutes prior to the conference call's st
EL MONTE, Calif., April 30, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise, today announced its global fulfillment network has surpassed 10 million square feet of total space following the signing of a new lease in Ontario, California. This expansion strengthens GigaCloud's ability to support the continued growth of its B2B marketplace and deliver enhanced fulfillment support to its B2B marketplace participants. The new Ontario fulfillment center, spanning approximately 562,100 square feet, is set to commence operations in July 2024. With this latest addition
EL MONTE, Calif., Feb. 27, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise, today announced that suppliers from new product origins in Colombia, Mexico, and Turkey have joined its B2B ecommerce platform, GigaCloud Marketplace. This addition further diversifies the platform's product offerings and optimizes global supply chain management. Three global suppliers have joined the GigaCloud Marketplace as new 3P sellers, expanding the seller base in new markets and introducing new SKUs to the platform. Colombia-based Plasticos MQ will introduce a variety of home pr
HONG KONG, Feb. 27, 2023 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise, today announced the changes to the composition of its board of directors (the "Board"). Mr. Huang Xing, who served as our non-executive director, resigned as a director of the Board for personal reason, effective December 31, 2022. Mr. Huang's resignation from the Board did not result from any disagreement with the Company, and there are no matters relating to his resignation that need to be brought to the attention of the shareholders of the Company. Mr. Huang's resignation has not affected
GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced that it has been added to the Russell 2000® Index effective June 28, 2024, after the U.S. market close.
This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. Here's the list of options activity happening in today's session: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume TSLA CALL SWEEP BULLISH 06/21/24 $200.00 $42.7K 84.8K 107.9K AMZN CALL SWEEP BEARISH 07/19/24 $190.00
Financial giants have made a conspicuous bullish move on GigaCloud Tech. Our analysis of options history for GigaCloud Tech (NASDAQ:GCT) revealed 8 unusual trades. Delving into the details, we found 50% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $75,845, and 6 were calls, valued at $237,935. Predicted Price Range Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $20.0 to $40.0 for GigaCloud Tech during the past quarter. Insights into Volume & Open Interest Looking at the volume and open interest is a powerful move while trading options
Deep-pocketed investors have adopted a bullish approach towards GigaCloud Tech (NASDAQ:GCT), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GCT usually suggests something big is about to happen. We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for GigaCloud Tech. This level of activity is out of the ordinary. The general mood among these heavyweight investors is divided, with 33% leaning bullish and 33% bearish. Among these notable opti
Maxim Group analyst Thomas Forte initiates coverage on GigaCloud Tech (NASDAQ:GCT) with a Buy rating and announces Price Target of $69.
https://grizzlyreports.com/gigacloud-technology-inc-another-china-hustle-inflating-key-metrics-using-undisclosed-related-party-shell-companies/
GigaCloud Tech's (NYSE:GCT) short percent of float has risen 28.91% since its last report. The company recently reported that it has 3.29 million shares sold short, which is 17.48% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.2 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest
GigaCloud Tech (NASDAQ:GCT) reported quarterly earnings of $0.66 per share which beat the analyst consensus estimate of $0.62 by 6.45 percent. This is a 69.23 percent increase over earnings of $0.39 per share from the same period last year. The company reported quarterly sales of $251.077 million which beat the analyst consensus estimate of $243.000 million by 3.32 percent. This is a 96.47 percent increase over sales of $127.797 million the same period last year.
-- Total Revenues More Than Doubled, Reaching a Record High Significant Growth in Adjusted EBITDA Reflects Enhanced Operational Efficiency and Profitability -- EL MONTE, Calif., Aug. 06, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced financial results for the second quarter and six months ended June 30, 2024, including continued robust growth in revenues, gross profit, and net income over the comparable period last year. Second Quarter 2024 Financial Highlights Total revenues of $310.9 million grew 103.1% from $153.1 million in t
EL MONTE, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced that it will report its unaudited financial results for the second quarter and six months ended June 30, 2024 after the market closes on Tuesday, August 6, 2024. The Company will host a conference call to discuss its financial results on Wednesday, August 7, at 8:00 AM Eastern Time. To access the conference call, participants should pre-register here to receive the dial-in information and a unique PIN. All participants are encouraged to dial-in 15 minutes prior to the
-- Revenue Nearly Doubled and Hit Record High; Further Accelerated GigaCloud Marketplace Across all Metrics -- EL MONTE, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced financial results for the first quarter ended March 31, 2024, including substantial growth in revenue, gross profit, and net income over the comparable prior year period. First Quarter 2024 Financial Highlights Total revenues of $251.1 million, increased 96.5% from $127.8 million in the first quarter of 2023.Gross profit of $6
EL MONTE, Calif., May 02, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced that it will report its unaudited financial results for the first quarter ended March 31, 2024 before the market opens on Thursday, May 9, 2024. The Company will host a conference call to discuss its financial results on the same day at 8:00 AM Eastern Time. To access the conference call, participants should pre-register here to receive the dial-in information and a unique PIN. All participants are encouraged to dial-in 15 minutes prior to the conference call's st
EL MONTE, Calif., March 11, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise, today announced that it will report its unaudited financial results for the fourth quarter and full year ended December 31, 2023 before the market opens on Friday, March 15, 2024. The Company will host a conference call to discuss its financial results on Monday, March 18, 2024 at 8:30 AM Eastern Time. In order to access the conference call, participants may access the registration link here. Upon registration, participants will receive the dial-in number and unique PIN, which can be
WALNUT, Calif., Nov. 16, 2023 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise, today announced that it has completed the acquisition of a 100% equity interest of Apexis, Inc., a Florida corporation dba Wondersign ("Wondersign"), for a total cash consideration of $10.0 million, subject to customary purchase price adjustments. Wondersign is a cloud-based interactive digital signage and e-catalog management SaaS company headquartered in Tampa, Florida with access to thousands of storefronts across the United States through its customers. Wondersign develops and maintai
Net Income Increased by over 200% Period-Over-Period in First Half 2023 Revenue Increased by 18.8% Period-Over-Period in First Half 2023 WALNUT, Calif., Aug. 15, 2023 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise, today announced its unaudited financial results for the quarter and six months ended June 30, 2023. Second Quarter 2023 Financial Highlights Total revenues were $153.1 million in the second quarter of 2023, an increase of 23.5% from $124.0 million in the second quarter of 2022.Gross profit was $40.4 million in the second quarter of 2023, an increase
WALNUT, Calif., Aug. 08, 2023 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise, today announced that it will report its unaudited financial results for the second quarter and six months ended June 30, 2023 before the market opens on Tuesday, August 15, 2023. The Company will host a conference call to discuss its financial results at 8:30 AM Eastern Time that same day. In order to access the conference call, participants may access the registration link here. Upon registration, participants will receive the dial-in number and unique PIN, which can be used to joi
HONG KONG, May 24, 2023 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise, today announced its unaudited financial results for the quarter ended March 31, 2023. First Quarter 2023 Financial Highlights Total revenues were $127.8 million in the first quarter of 2023, an increase of 13.7% from $112.4 million in the first quarter of 2022.Gross profit was $29.6 million in the first quarter of 2023, an increase of 75.3% from $16.9 million in the first quarter of 2022. Gross margin increased to 23.1% in the first quarter of 2023, compared to 15.0% in the first quarter of 2
HONG KONG, May 17, 2023 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (NASDAQ:GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise, today announced that it will report its unaudited financial results for the first quarter of 2023 before the U.S. market opens on Wednesday, May 24, 2023. The Company will host an earnings conference call to discuss its financial results at 8:30 am U.S. Eastern Time (8:30 pm Beijing/Hong Kong Time) on May 24, 2023. For participants who wish to join the call, please access the link provided below to complete the online registration process. Registration Link: https://register.vevent.com/regis