Stock Traders Purchase High Volume of Grid Dynamics Call Options (NASDAQ:GDYN)

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) was the recipient of unusually large options trading on Wednesday. Traders acquired 10,819 call options on the company. This is an increase of approximately 6,497% compared to the average daily volume of 164 call options.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Needham & Company LLC lowered their price target on Grid Dynamics from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Zacks Research cut Grid Dynamics from a “hold” rating to a “strong sell” rating in a research report on Monday, March 9th. Weiss Ratings cut Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday. Finally, Northland Securities lowered their price target on Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Monday, March 9th. Five research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Grid Dynamics Price Performance

GDYN traded up $0.45 on Wednesday, reaching $6.55. 2,892,562 shares of the stock were exchanged, compared to its average volume of 1,452,285. The company’s 50-day moving average price is $6.03 and its 200 day moving average price is $7.67. Grid Dynamics has a fifty-two week low of $5.13 and a fifty-two week high of $15.32. The firm has a market capitalization of $559.30 million, a PE ratio of 130.85 and a beta of 0.86.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Grid Dynamics had a return on equity of 1.20% and a net margin of 1.27%.The company had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $103.32 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts forecast that Grid Dynamics will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grid Dynamics

A number of institutional investors have recently modified their holdings of GDYN. Amundi purchased a new position in shares of Grid Dynamics during the 1st quarter valued at about $252,000. AQR Capital Management LLC raised its holdings in Grid Dynamics by 32.4% in the 1st quarter. AQR Capital Management LLC now owns 15,484 shares of the company’s stock worth $242,000 after purchasing an additional 3,791 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Grid Dynamics by 12.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,590 shares of the company’s stock worth $573,000 after buying an additional 4,116 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Grid Dynamics by 12.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company’s stock worth $4,995,000 after buying an additional 35,204 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Grid Dynamics by 35.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 162,714 shares of the company’s stock worth $2,546,000 after buying an additional 42,801 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

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.