Short Interest in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Expands By 24.2%
by Kim Johansen · The Markets DailyGrid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Free Report) was the recipient of a significant growth in short interest in February. As of February 27th, there was short interest totaling 4,500,877 shares, a growth of 24.2% from the February 12th total of 3,623,297 shares. Based on an average trading volume of 1,483,541 shares, the days-to-cover ratio is currently 3.0 days. Approximately 5.7% of the company’s stock are short sold. Approximately 5.7% of the company’s stock are short sold. Based on an average trading volume of 1,483,541 shares, the days-to-cover ratio is currently 3.0 days.
Institutional Trading of Grid Dynamics
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Grid Dynamics by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 5,920,753 shares of the company’s stock worth $53,464,000 after acquiring an additional 279,995 shares during the period. Wasatch Advisors LP lifted its position in Grid Dynamics by 2.5% during the second quarter. Wasatch Advisors LP now owns 4,669,558 shares of the company’s stock valued at $53,933,000 after purchasing an additional 112,319 shares during the period. Alyeska Investment Group L.P. boosted its holdings in Grid Dynamics by 236.9% in the third 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. Fourth Sail Capital LP grew its position in Grid Dynamics by 36.2% in the 4th quarter. Fourth Sail Capital LP now owns 3,827,968 shares of the company’s stock worth $34,567,000 after purchasing an additional 1,016,563 shares during the period. Finally, Wellington Management Group LLP grew its position in Grid Dynamics by 20.8% in the 4th quarter. Wellington Management Group LLP now owns 2,356,779 shares of the company’s stock worth $21,282,000 after purchasing an additional 405,381 shares during the period. Hedge funds and other institutional investors own 71.18% of the company’s stock.
Grid Dynamics Stock Performance
Shares of GDYN stock traded down $0.11 during mid-day trading on Friday, hitting $6.33. The company’s stock had a trading volume of 1,628,411 shares, compared to its average volume of 1,795,006. The stock has a market cap of $536.59 million, a price-to-earnings ratio of 63.30 and a beta of 0.84. Grid Dynamics has a 52-week low of $6.00 and a 52-week high of $17.46. The business has a 50-day moving average price of $7.71 and a 200 day moving average price of $8.20.
Grid Dynamics (NASDAQ:GDYN – Get Free Report) last released its quarterly earnings data on Thursday, March 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Grid Dynamics had a return on equity of 1.46% and a net margin of 2.35%.The company had revenue of $106.15 million for the quarter, compared to analysts’ expectations of $105.92 million. During the same period last year, the firm posted $0.12 earnings per share. Grid Dynamics’s revenue was up 5.9% compared to the same quarter last year. Equities research analysts predict that Grid Dynamics will post 0.18 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on GDYN shares. 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, February 18th. Zacks Research lowered shares of Grid Dynamics from a “hold” rating to a “strong sell” rating in a research note on Monday, March 9th. Needham & Company LLC decreased their target price on shares of Grid Dynamics from $13.00 to $10.00 and set a “buy” rating for the company in a report on Friday, March 6th. TD Cowen decreased their target price on shares of Grid Dynamics from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, March 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Grid Dynamics in a research note on Wednesday, December 24th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Grid Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $10.60.
Get Our Latest Stock Analysis on GDYN
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.