Short Interest in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Grows By 5.2%

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 2,040,000 shares, a growth of 5.2% from the September 15th total of 1,940,000 shares. Based on an average trading volume of 349,500 shares, the days-to-cover ratio is currently 5.8 days. Approximately 3.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of research firms have commented on GDYN. JPMorgan Chase & Co. boosted their price objective on Grid Dynamics from $15.00 to $17.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Citigroup reduced their price objective on Grid Dynamics from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, July 12th. Cantor Fitzgerald raised Grid Dynamics to a "strong-buy" rating in a research note on Monday, August 12th. TD Cowen raised Grid Dynamics from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $12.00 to $16.00 in a research note on Friday, August 2nd. Finally, Needham & Company LLC boosted their price objective on Grid Dynamics from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $15.67.

Insider Buying and Selling

In related news, CEO Leonard Livschitz sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $14.56, for a total transaction of $218,400.00. Following the completion of the transaction, the chief executive officer now owns 3,460,901 shares in the company, valued at $50,390,718.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Anil Doradla sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $12.97, for a total transaction of $38,910.00. Following the completion of the transaction, the chief financial officer now owns 369,282 shares in the company, valued at $4,789,587.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total value of $218,400.00. Following the completion of the transaction, the chief executive officer now owns 3,460,901 shares of the company's stock, valued at approximately $50,390,718.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 961,387 shares of company stock worth $12,349,914 in the last 90 days. 7.40% 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 added to or reduced their stakes in GDYN. Harbor Capital Advisors Inc. increased its holdings in Grid Dynamics by 21.3% in the second quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company's stock valued at $106,000 after purchasing an additional 1,770 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Grid Dynamics in the second quarter worth about $117,000. ProShare Advisors LLC bought a new stake in shares of Grid Dynamics in the first quarter worth about $124,000. XTX Topco Ltd bought a new stake in shares of Grid Dynamics in the second quarter worth about $129,000. Finally, Mount Yale Investment Advisors LLC bought a new stake in shares of Grid Dynamics in the second quarter worth about $141,000. Institutional investors own 71.18% of the company's stock.

Grid Dynamics Trading Down 0.5 %

Shares of GDYN traded down $0.08 during trading hours on Thursday, hitting $15.42. 159,911 shares of the stock traded hands, compared to its average volume of 329,776. Grid Dynamics has a 1-year low of $9.07 and a 1-year high of $15.63. The firm has a market capitalization of $1.18 billion, a PE ratio of 514.00 and a beta of 1.06. The business has a fifty day moving average of $13.96 and a 200-day moving average of $11.88.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The business had revenue of $83.04 million for the quarter, compared to analyst estimates of $81.06 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.