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

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on GDYN shares. Weiss Ratings restated a “hold (c-)” rating on shares of Grid Dynamics in a report on Wednesday, December 24th. JPMorgan Chase & Co. dropped 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 note on Friday, October 31st. Finally, Needham & Company LLC decreased their price objective on shares of Grid Dynamics from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Grid Dynamics currently has an average rating of “Moderate Buy” and a consensus price target of $11.33.

Insider Transactions at Grid Dynamics

In other news, CFO Anil Doradla sold 4,368 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $10.00, for a total value of $43,680.00. Following the transaction, the chief financial officer directly owned 344,852 shares in the company, valued at $3,448,520. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

A number of hedge funds have recently made changes to their positions in GDYN. S Squared Technology LLC raised its stake in shares of Grid Dynamics by 109.3% during the fourth quarter. S Squared Technology LLC now owns 636,737 shares of the company’s stock valued at $5,750,000 after purchasing an additional 332,499 shares in the last quarter. Fourth Sail Capital LP increased its stake in shares of Grid Dynamics by 36.2% during the fourth quarter. Fourth Sail Capital LP now owns 3,827,968 shares of the company’s stock valued at $34,567,000 after acquiring an additional 1,016,563 shares during the period. Formula Growth Ltd. acquired a new position in shares of Grid Dynamics during the fourth quarter valued at approximately $2,965,000. Stifel Financial Corp lifted its position in Grid Dynamics by 28.1% in the fourth quarter. Stifel Financial Corp now owns 42,952 shares of the company’s stock worth $388,000 after purchasing an additional 9,429 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Grid Dynamics by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 684,248 shares of the company’s stock worth $6,179,000 after purchasing an additional 106,617 shares during the period. Institutional investors own 71.18% of the company’s stock.

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN traded down $0.02 during trading on Monday, reaching $6.58. 3,469,950 shares of the company’s stock traded hands, compared to its average volume of 1,327,184. The company has a 50 day moving average of $8.80 and a 200-day moving average of $8.39. Grid Dynamics has a 12 month low of $6.16 and a 12 month high of $25.50. The stock has a market capitalization of $557.79 million, a P/E ratio of 43.87 and a beta of 0.82.

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.