Short Interest in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Expands By 23.8%

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) was the recipient of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 3,623,297 shares, an increase of 23.8% from the January 29th total of 2,927,739 shares. Currently, 4.6% of the shares of the company are short sold. Based on an average daily volume of 1,792,692 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily volume of 1,792,692 shares, the days-to-cover ratio is presently 2.0 days. Currently, 4.6% of the shares of the company are short sold.

Insider Transactions at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 4,368 shares of the company’s stock in a transaction dated 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 owned 344,852 shares in the company, valued at approximately $3,448,520. This represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Grid Dynamics by 8.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,063 shares of the company’s stock valued at $186,000 after buying an additional 1,302 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Grid Dynamics by 3.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 47,645 shares of the company’s stock worth $367,000 after purchasing an additional 1,640 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings 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 valued at $47,000 after buying an additional 1,742 shares during the last quarter. Quarry LP grew its stake in shares of Grid Dynamics by 57.1% in the 3rd quarter. Quarry LP now owns 4,835 shares of the company’s stock valued at $37,000 after buying an additional 1,757 shares in the last quarter. Finally, Trust Point Inc. increased its holdings in Grid Dynamics by 13.6% in the fourth quarter. Trust Point Inc. now owns 14,947 shares of the company’s stock worth $135,000 after buying an additional 1,785 shares during the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Trading Up 2.1%

GDYN stock traded up $0.15 during mid-day trading on Wednesday, reaching $7.26. 835,152 shares of the stock traded hands, compared to its average volume of 1,316,617. Grid Dynamics has a 52-week low of $6.11 and a 52-week high of $19.49. The stock’s fifty day moving average is $8.11 and its 200-day moving average is $8.27. The company has a market cap of $615.43 million, a P/E ratio of 48.40 and a beta of 0.84.

Wall Street Analyst Weigh In

Several analysts have weighed in on GDYN shares. JPMorgan Chase & Co. cut their target price on Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grid Dynamics in a research report on Wednesday, December 24th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.00.

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.