GigaCloud Technology shares rise 7.6% after 'strong-buy' and 'buy' ratings and Q2 earnings exceed expectations.
GigaCloud Technology (NASDAQ: GCT) shares rose 7.6% to $25.35 following a "strong-buy" rating from Aegis and a "buy" rating with a $50 target from Lake Street Capital. The company reported Q2 earnings of $1.03 EPS, exceeding expectations. GigaCloud has a market cap of $1.03 billion and a P/E ratio of 9.82. Notably, short interest has increased to 36.7% of available shares, indicating bearish market sentiment.
October 11, 2024
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