Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Short Interest Update

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) was the target of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 2,927,739 shares, a decrease of 16.4% from the January 15th total of 3,504,035 shares. Currently, 3.7% of the shares of the company are sold short. Based on an average daily volume of 970,241 shares, the days-to-cover ratio is presently 3.0 days. Based on an average daily volume of 970,241 shares, the days-to-cover ratio is presently 3.0 days. Currently, 3.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Needham & Company LLC cut 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. Weiss Ratings restated a “hold (c-)” rating on shares of Grid Dynamics in a report on Wednesday, December 24th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Insiders Place Their Bets

In other Grid Dynamics 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 completion of the transaction, the chief financial officer directly owned 344,852 shares of the company’s stock, valued at $3,448,520. This trade represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Grid Dynamics by 8.8% in 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 purchasing an additional 1,302 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings 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 worth $367,000 after buying an additional 1,640 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Grid Dynamics by 50.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,193 shares of the company’s stock worth $47,000 after buying an additional 1,742 shares in the last quarter. Quarry LP increased its stake in shares of Grid Dynamics by 57.1% during the third quarter. Quarry LP now owns 4,835 shares of the company’s stock valued at $37,000 after buying an additional 1,757 shares during the period. Finally, Trust Point Inc. raised its holdings in shares of Grid Dynamics by 13.6% in the fourth quarter. Trust Point Inc. now owns 14,947 shares of the company’s stock valued at $135,000 after acquiring an additional 1,785 shares in the last quarter. 71.18% of the stock is owned by institutional investors.

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN traded up $0.39 during mid-day trading on Wednesday, reaching $6.90. 770,900 shares of the company traded hands, compared to its average volume of 1,241,137. Grid Dynamics has a 52 week low of $6.16 and a 52 week high of $25.50. The firm has a market cap of $584.49 million, a PE ratio of 45.98 and a beta of 0.82. The company’s 50 day moving average price is $8.68 and its 200-day moving average price is $8.36.

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.