Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Short Interest Up 18.2% in December

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 2,210,000 shares, a growth of 18.2% from the December 15th total of 1,870,000 shares. Currently, 3.5% of the company’s stock are sold short. Based on an average trading volume of 891,300 shares, the days-to-cover ratio is presently 2.5 days.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GDYN shares. TD Cowen upped their price objective on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citigroup upped their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Needham & Company LLC upped their price target on shares of Grid Dynamics from $20.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $18.33.

Insider Transactions at Grid Dynamics

In related news, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total value of $66,360.00. Following the completion of the sale, the chief financial officer now directly owns 343,012 shares in the company, valued at approximately $7,587,425.44. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 13,000 shares of company stock valued at $247,220. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. MCF Advisors LLC raised its position in Grid Dynamics by 65.8% in the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after purchasing an additional 740 shares in the last quarter. FMR LLC increased its holdings in shares of Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after purchasing an additional 801 shares in the last quarter. Quarry LP increased its holdings in shares of Grid Dynamics by 131.5% in the third quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after purchasing an additional 2,974 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Grid Dynamics in the third quarter valued at approximately $122,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Grid Dynamics in the fourth quarter valued at approximately $242,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Stock Up 2.0 %

GDYN stock traded up $0.41 during mid-day trading on Friday, reaching $21.06. 498,634 shares of the stock traded hands, compared to its average volume of 1,463,230. Grid Dynamics has a 52 week low of $9.07 and a 52 week high of $24.16. The business has a 50-day moving average of $19.72 and a two-hundred day moving average of $15.83. The firm has a market capitalization of $1.74 billion, a PE ratio of 702.23 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, October 31st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The business had revenue of $87.40 million during the quarter, compared to analysts’ expectations of $85.09 million. During the same quarter last year, the company earned $0.08 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. On average, equities research analysts anticipate that Grid Dynamics will post 0.03 EPS for the current fiscal year.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.