Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Rating) reached a new 52-week low during mid-day trading on Friday after Cantor Fitzgerald lowered their price target on the stock from $20.00 to $17.00. The stock traded as low as $8.00 and last traded at $9.35, with a volume of 374714 shares trading hands. The stock had previously closed at $11.30.
GDYN has been the subject of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Grid Dynamics in a research note on Friday, February 24th. Citigroup increased their price target on Grid Dynamics from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, February 24th. Finally, TheStreet downgraded shares of Grid Dynamics from a “c” rating to a “d+” rating in a report on Thursday, April 6th.
Insider Transactions at Grid Dynamics
In other news, CEO Leonard Livschitz sold 74,296 shares of the business’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $11.82, for a total transaction of $878,178.72. Following the completion of the transaction, the chief executive officer now owns 3,274,136 shares of the company’s stock, valued at $38,700,287.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.40% of the company’s stock.
Institutional Investors Weigh In On Grid Dynamics
Several hedge funds have recently added to or reduced their stakes in GDYN. MCF Advisors LLC bought a new stake in Grid Dynamics in the 3rd quarter worth approximately $31,000. UBS Group AG grew its holdings in shares of Grid Dynamics by 412.4% during the 3rd quarter. UBS Group AG now owns 2,275 shares of the company’s stock valued at $43,000 after purchasing an additional 1,831 shares during the last quarter. Fifth Third Bancorp lifted its stake in Grid Dynamics by 49.8% in the first quarter. Fifth Third Bancorp now owns 3,909 shares of the company’s stock worth $45,000 after purchasing an additional 1,300 shares during the last quarter. ETF Managers Group LLC purchased a new stake in Grid Dynamics during the first quarter valued at about $48,000. Finally, Captrust Financial Advisors grew its stake in shares of Grid Dynamics by 197.2% during the second quarter. Captrust Financial Advisors now owns 4,619 shares of the company’s stock valued at $78,000 after buying an additional 3,065 shares during the last quarter. Institutional investors own 68.69% of the company’s stock.
Grid Dynamics Stock Down 16.2 %
The company has a fifty day moving average price of $11.32 and a 200 day moving average price of $11.92. The stock has a market cap of $708.64 million, a PE ratio of -22.02 and a beta of 0.84.
Grid Dynamics (NASDAQ:GDYN – Get Rating) last issued its earnings results on Thursday, May 4th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. Grid Dynamics had a negative net margin of 9.41% and a positive return on equity of 12.44%. The firm had revenue of $80.08 million for the quarter, compared to analysts’ expectations of $79.62 million. During the same quarter last year, the business earned $0.10 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. As a group, research analysts predict that Grid Dynamics Holdings, Inc. will post 0.48 earnings per share for the current year.
Grid Dynamics Company Profile
Grid Dynamics Holdings, Inc provides digital engineering and information technology services. The firm core business is to deliver focused and complex technical consulting, software design, development, testing and internet service operations. It also helps organizations become more agile and create innovative digital products and experiences through its deep expertise in emerging technology, such as AI, data science, cloud computing, big data and DevOps, lean software development practices and a performance product culture.