Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Sees Significant Decline in Short Interest

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 3,293,622 shares, a decrease of 17.3% from the December 15th total of 3,984,813 shares. Based on an average trading volume of 1,039,457 shares, the days-to-cover ratio is presently 3.2 days. Currently, 4.2% of the shares of the company are sold short. Currently, 4.2% of the shares of the company are sold short. Based on an average trading volume of 1,039,457 shares, the days-to-cover ratio is presently 3.2 days.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GDYN. JPMorgan Chase & Co. decreased their price target on shares of Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grid Dynamics in a research note on Wednesday, December 24th. Needham & Company LLC lowered their price target on Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, Zacks Research raised Grid Dynamics from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.33.

Grid Dynamics Stock Performance

NASDAQ:GDYN opened at $8.71 on Wednesday. The company has a 50-day moving average of $9.14 and a 200-day moving average of $8.78. Grid Dynamics has a 52 week low of $7.37 and a 52 week high of $25.50. The company has a market capitalization of $738.35 million, a price-to-earnings ratio of 58.07 and a beta of 0.82.

Grid Dynamics (NASDAQ:GDYN) last posted its earnings results on Thursday, October 30th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $104.16 million for the quarter, compared to analysts’ expectations of $103.64 million. Grid Dynamics had a net margin of 3.42% and a return on equity of 1.74%. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Sell-side analysts forecast that Grid Dynamics will post 0.18 EPS for the current year.

Insider Buying and Selling at Grid Dynamics

In other news, CFO Anil Doradla sold 4,368 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $10.00, for a total value of $43,680.00. Following the sale, the chief financial officer owned 344,852 shares in the company, valued at approximately $3,448,520. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 7,105 shares of company stock valued at $70,313 over the last three months. 6.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Grid Dynamics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Grid Dynamics by 8.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,063 shares of the company’s stock worth $186,000 after buying an additional 1,302 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Grid Dynamics by 3.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 47,645 shares of the company’s stock valued at $367,000 after acquiring an additional 1,640 shares during the period. Quarry LP boosted its stake in Grid Dynamics by 57.1% during the 3rd quarter. Quarry LP now owns 4,835 shares of the company’s stock worth $37,000 after acquiring an additional 1,757 shares during the last quarter. Trust Point Inc. boosted its stake in Grid Dynamics by 13.6% during the 4th quarter. Trust Point Inc. now owns 14,947 shares of the company’s stock worth $135,000 after acquiring an additional 1,785 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in Grid Dynamics by 13.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 14,833 shares of the company’s stock valued at $171,000 after purchasing an additional 1,802 shares during the period. Institutional investors own 71.18% of the company’s stock.

About Grid Dynamics

Grid Dynamics (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises accelerate their digital transformation initiatives. The company specializes in designing and implementing scalable, cloud-native solutions that leverage advanced analytics, machine learning and artificial intelligence to optimize operations, enhance customer experiences and drive revenue growth. Its technology expertise spans e-commerce platforms, modern data architectures, DevOps and automation, as well as custom application development across a range of industries including retail, financial services, high tech and automotive.

Key service offerings include cloud migration and modernization, data engineering and analytics, AI/ML-driven insights, digital commerce and omnichannel solutions.