Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Short Interest Down 17.3% in December

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

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN traded down $0.49 during trading on Tuesday, reaching $8.69. 351,997 shares of the company’s stock traded hands, compared to its average volume of 887,443. The stock has a market capitalization of $736.23 million, a P/E ratio of 57.90 and a beta of 0.82. Grid Dynamics has a 12 month low of $7.37 and a 12 month high of $25.50. The company has a 50 day moving average of $9.14 and a 200-day moving average of $8.81.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $104.16 million during the quarter, compared to analyst estimates of $103.64 million. Grid Dynamics had a net margin of 3.42% and a return on equity of 1.74%. The company’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 earnings per share. Equities research analysts predict that Grid Dynamics will post 0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on GDYN shares. JPMorgan Chase & Co. decreased their price target on Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Zacks Research raised shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Needham & Company LLC dropped their price objective on Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Grid Dynamics in a research note on Wednesday, December 24th. Finally, Jefferies Financial Group began coverage on shares of Grid Dynamics in a research note on Monday, September 22nd. They issued a “buy” rating and a $11.00 price objective on the stock. Three 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 company currently has an average rating of “Moderate Buy” and an average price target of $11.33.

Insider Activity

In other news, CFO Anil Doradla sold 4,368 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $10.00, for a total transaction of $43,680.00. Following the completion of the transaction, the chief financial officer directly owned 344,852 shares of the company’s stock, valued at $3,448,520. This represents a 1.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 7,105 shares of company stock worth $70,313. Corporate insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

Institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its stake in Grid Dynamics by 2.5% during the second quarter. Wasatch Advisors LP now owns 4,669,558 shares of the company’s stock worth $53,933,000 after purchasing an additional 112,319 shares during the period. Alyeska Investment Group L.P. grew its holdings in shares of Grid Dynamics by 236.9% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,290,786 shares of the company’s stock worth $33,082,000 after purchasing an additional 3,017,017 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Grid Dynamics by 5.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,985,557 shares of the company’s stock worth $15,309,000 after buying an additional 105,950 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Grid Dynamics by 7.1% in the second quarter. Jennison Associates LLC now owns 1,966,828 shares of the company’s stock valued at $22,717,000 after acquiring an additional 129,961 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in Grid Dynamics by 123.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,896,409 shares of the company’s stock worth $21,904,000 after acquiring an additional 1,049,519 shares during the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

Grid Dynamics Company Profile

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.