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This Little-Known Cloud Tech Stock Just Hit a New 52-Week High

  • GigaCloud Technology (GCT) recently set a new 52-week high and has strong technical momentum.
  • GCT maintains a 100% “Buy” opinion from Barchart.
  • Shares are up 78% over the past year.
  • Analyst sentiment is overwhelmingly positive, with multiple “Strong Buy” ratings. 

Today’s Featured Stock

Valued at $1.42 billion, GigaCloud Technology (GCT) is a pioneer of global end-to-end B2B technology solutions for large parcel merchandise. The company’s marketplace connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe.  

What I’m Watching

I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. GCT checks those boxes. Since the Trend Seeker signaled a new “Buy” on Nov. 10, the stock has gained 13.09%.

 

www.barchart.com

Barchart Technical Indicators for GigaCloud Technology

Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.

GigaCloud Technology hit a 52-week high of $40.75 on Dec. 9.

  • GCT has a Weighted Alpha of +75.10.
  • GigaCloud has a 100% “Buy” opinion from Barchart.
  • The stock gained 78.71% over the past year.
  • GCT has its Trend Seeker “Buy” signal intact.
  • The stock recently traded at $38.19 with a 50-day moving average of $31.40.
  • GigaCloud made 13 new highs and gained 19.62% in the last month.
  • Relative Strength Index (RSI) is at 62.22.
  • There’s a technical support level around $37.51.

Don’t Forget the Fundamentals

  • $1.42 billion market capitalization.
  • 12.01x trailing price-earnings ratio.
  • Revenue is projected to grow 7.45% this year and another 6.34% next year.
  • Earnings are estimated to decrease 3.02% this year but rebound again by 8.39% next year.

Analyst and Investor Sentiment on GigaCloud Technology

It looks like Wall Street and most of the investment data sites like this stock.

  • The Wall Street analysts tracked by Barchart have given 3 “Strong Buy” and 2 "Hold" opinions on the stock with price targets between $33 and $44.
  • Value Line rates it “Above Average.”
  • CFRA’s MarketScope Advisor rates it a “Strong Buy.”
  • Morningstar thinks even with the stock’s recent runup, it’s 10% undervalued with a Fair Value of $42.77.
  • 6 investors following the stock on Motley Fool think it will beat the market, while only 1 thinks it won't.
  • 18,970 investors are monitoring the stock on Seeking Alpha, which rates it a “Strong Buy.”
  • Short interest is high at 10.29% of the float.

The Bottom Line on GigaCloud Technology

There is a lot of positive interest and expectations for this stock but keep an eye on the direction of the short interest.

Today’s Chart of the Day was written by Jim Van MeertenRead previous editions of the daily newsletter here.

Additional disclosure: The Barchart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.


On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

 

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