Short Interest in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Expands By 24.2%

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) saw a significant growth in short interest in the month of 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. Approximately 5.7% of the company’s stock are short sold. Based on an average daily volume of 1,483,541 shares, the short-interest ratio is currently 3.0 days. Based on an average daily volume of 1,483,541 shares, the short-interest ratio is currently 3.0 days. Approximately 5.7% of the company’s stock are short sold.

Analysts Set New Price Targets

Several research firms recently issued reports on GDYN. Needham & Company LLC dropped their price target on shares of Grid Dynamics from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. TD Cowen dropped their target price on Grid Dynamics from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. JPMorgan Chase & Co. cut their price target 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. Zacks Research downgraded Grid Dynamics from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Grid Dynamics in a report on Wednesday, December 24th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.60.

Grid Dynamics Stock Performance

Shares of GDYN stock traded up $0.01 during trading hours on Tuesday, hitting $6.22. 298,632 shares of the company were exchanged, compared to its average volume of 1,428,873. The stock has a market capitalization of $530.62 million, a price-to-earnings ratio of 62.25 and a beta of 0.84. Grid Dynamics has a one year low of $6.00 and a one year high of $17.39. The business’s 50-day simple moving average is $7.65 and its two-hundred day simple moving average is $8.19.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, March 5th. 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 return on equity of 1.46% and a net margin of 2.35%.The firm had revenue of $106.15 million during the quarter, compared to analyst estimates of $105.92 million. During the same period in the previous year, the company earned $0.12 earnings per share. Grid Dynamics’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, analysts anticipate that Grid Dynamics will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Grid Dynamics

Large investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its holdings in Grid Dynamics by 175.5% in the fourth quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company’s stock worth $29,000 after purchasing an additional 2,057 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Grid Dynamics during the third quarter worth $31,000. GAMMA Investing LLC lifted its position in shares of Grid Dynamics by 273.2% in the 4th quarter. GAMMA Investing LLC now owns 3,598 shares of the company’s stock worth $32,000 after buying an additional 2,634 shares during the last quarter. Quarry LP lifted its position in shares of Grid Dynamics by 57.1% in the 3rd quarter. Quarry LP now owns 4,835 shares of the company’s stock worth $37,000 after buying an additional 1,757 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Grid Dynamics in the 2nd quarter valued at about $43,000. 71.18% of the stock is currently owned by institutional investors.

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.