Grid Dynamics (NASDAQ:GDYN) Hits New 12-Month Low – Here’s What Happened

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) hit a new 52-week low on Wednesday . The stock traded as low as $7.01 and last traded at $7.16, with a volume of 1767709 shares trading hands. The stock had previously closed at $8.29.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grid Dynamics in a report on Wednesday, December 24th. JPMorgan Chase & Co. lowered their target price on Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Finally, 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. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Grid Dynamics has a consensus rating of “Moderate Buy” and an average price target of $11.33.

Grid Dynamics Trading Down 13.6%

The company has a market cap of $606.95 million, a P/E ratio of 47.73 and a beta of 0.82. The company’s 50-day moving average price is $9.14 and its two-hundred day moving average price is $8.58.

Insiders Place Their Bets

In other Grid Dynamics 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 sale, the chief financial officer owned 344,852 shares in the company, valued at $3,448,520. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 6.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of Grid Dynamics in the 3rd quarter valued at approximately $31,000. GAMMA Investing LLC boosted its holdings in Grid Dynamics by 273.2% in the fourth quarter. GAMMA Investing LLC now owns 3,598 shares of the company’s stock worth $32,000 after purchasing an additional 2,634 shares during the period. Quarry LP increased its stake in 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 purchasing an additional 1,757 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Grid Dynamics during the second quarter worth $43,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Grid Dynamics by 208.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,213 shares of the company’s stock worth $72,000 after purchasing an additional 4,197 shares during the period. Institutional investors and hedge funds 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.