Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Short Interest Down 16.4% in January

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) saw a significant 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. 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 short sold. Currently, 3.7% of the company’s shares are short sold. Based on an average daily trading volume, of 970,241 shares, the days-to-cover ratio is currently 3.0 days.

Grid Dynamics Trading Down 1.1%

Grid Dynamics stock traded down $0.07 on Tuesday, reaching $6.51. 2,139,030 shares of the stock were exchanged, compared to its average volume of 1,327,184. Grid Dynamics has a twelve month low of $6.16 and a twelve month high of $25.50. The firm has a fifty day moving average price of $8.68 and a two-hundred day moving average price of $8.36. The stock has a market cap of $551.85 million, a PE ratio of 43.40 and a beta of 0.82.

Insider Activity at Grid Dynamics

In related news, CFO Anil Doradla sold 4,368 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $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 accessible through this hyperlink. 6.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Alyeska Investment Group L.P. grew its stake in Grid Dynamics by 236.9% during the third quarter. Alyeska Investment Group L.P. now owns 4,290,786 shares of the company’s stock worth $33,082,000 after buying an additional 3,017,017 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Grid Dynamics in the third quarter valued at about $8,854,000. Alliancebernstein L.P. raised its holdings in shares of Grid Dynamics by 123.9% in the second quarter. Alliancebernstein L.P. now owns 1,896,409 shares of the company’s stock valued at $21,904,000 after buying an additional 1,049,519 shares during the last quarter. Fourth Sail Capital LP lifted its position in Grid Dynamics by 36.2% during the 4th quarter. Fourth Sail Capital LP now owns 3,827,968 shares of the company’s stock worth $34,567,000 after buying an additional 1,016,563 shares in the last quarter. Finally, CenterBook Partners LP grew its holdings in Grid Dynamics by 255.1% during the 3rd quarter. CenterBook Partners LP now owns 1,094,701 shares of the company’s stock worth $8,440,000 after acquiring an additional 786,384 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on GDYN shares. JPMorgan Chase & Co. reduced their price target on shares of Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Grid Dynamics in a report on Wednesday, December 24th. Finally, Needham & Company LLC dropped their price target on shares of Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.33.

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.