Grid Dynamics (NASDAQ:GDYN) Sets New 52-Week Low - Time to Sell?

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) hit a new 52-week low on Friday . The stock traded as low as $10.61 and last traded at $10.63, with a volume of 761140 shares trading hands. The stock had previously closed at $11.48.

Analyst Ratings Changes

GDYN has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Grid Dynamics from a "hold" rating to a "buy" rating in a report on Saturday. Needham & Company LLC raised their target price on Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Five 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 currently has a consensus rating of "Buy" and a consensus target price of $18.75.

Grid Dynamics Price Performance

The business's 50-day moving average price is $12.51 and its two-hundred day moving average price is $16.31. The firm has a market cap of $884.39 million, a price-to-earnings ratio of 87.17 and a beta of 1.04.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $100.42 million during the quarter, compared to analyst estimates of $98.19 million. Grid Dynamics had a net margin of 2.94% and a return on equity of 1.37%. The firm's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS. Equities analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Transactions at Grid Dynamics

In other news, COO Yury Gryzlov sold 2,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $13.22, for a total value of $26,440.00. Following the completion of the transaction, the chief operating officer owned 474,269 shares in the company, valued at approximately $6,269,836.18. This trade represents a 0.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 6,737 shares of company stock worth $84,251 in the last 90 days. Corporate insiders own 7.20% of the company's stock.

Hedge Funds Weigh In On Grid Dynamics

Several large investors have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P bought a new position in shares of Grid Dynamics in the 4th quarter worth about $55,114,000. Nuveen LLC acquired a new stake in Grid Dynamics during the first quarter worth about $19,977,000. Vanguard Group Inc. lifted its holdings in Grid Dynamics by 26.8% in the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock worth $123,110,000 after acquiring an additional 1,171,481 shares during the last quarter. Focus Partners Wealth bought a new position in Grid Dynamics in the fourth quarter worth about $23,053,000. Finally, William Blair Investment Management LLC acquired a new position in Grid Dynamics in the fourth quarter valued at approximately $22,192,000. 71.18% of the stock is currently owned by institutional investors.

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.