Grid Dynamics (NASDAQ:GDYN) Hits New 12-Month Low – Should You Sell?

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $6.11 and last traded at $6.16, with a volume of 1260397 shares traded. The stock had previously closed at $6.81.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GDYN shares. Needham & Company LLC cut 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. JPMorgan Chase & Co. reduced their target price on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Grid Dynamics in a research note on Wednesday, December 24th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Grid Dynamics Price Performance

The stock has a 50 day simple moving average of $8.31 and a two-hundred day simple moving average of $8.30. The company has a market capitalization of $547.61 million, a price-to-earnings ratio of 43.07 and a beta of 0.82.

Insider Transactions at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 4,368 shares of the 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 transaction, the chief financial officer directly owned 344,852 shares in the company, valued at $3,448,520. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Grid Dynamics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. increased its position in shares of Grid Dynamics by 175.5% during 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 in the last quarter. SBI Securities Co. Ltd. purchased a new position in Grid Dynamics during the 3rd quarter worth approximately $31,000. GAMMA Investing LLC increased its position in Grid Dynamics by 273.2% during the fourth 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 period. Quarry LP lifted its stake in Grid Dynamics by 57.1% in the third quarter. Quarry LP now owns 4,835 shares of the company’s stock valued at $37,000 after buying an additional 1,757 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Grid Dynamics in the second quarter valued at approximately $43,000. 71.18% of the stock is owned by hedge funds and other 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.