Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 123,410,000 shares, a growth of 7.5% from the January 15th total of 114,840,000 shares. Based on an average trading volume of 35,400,000 shares, the days-to-cover ratio is presently 3.5 days. Currently, 5.2% of the company's stock are sold short.
Grab Stock Performance
GRAB stock traded up $0.12 during midday trading on Friday, reaching $4.90. The stock had a trading volume of 56,373,621 shares, compared to its average volume of 36,315,199. The stock has a market cap of $19.73 billion, a PE ratio of -245.00, a P/E/G ratio of 2.23 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The firm has a fifty day simple moving average of $4.76 and a two-hundred day simple moving average of $4.28. Grab has a 52-week low of $2.98 and a 52-week high of $5.72.
Grab (NASDAQ:GRAB - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01. The company had revenue of $764.00 million during the quarter, compared to analyst estimates of $762.57 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. As a group, equities research analysts anticipate that Grab will post -0.02 EPS for the current year.
Hedge Funds Weigh In On Grab
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its holdings in shares of Grab by 10.0% in the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company's stock valued at $221,942,000 after acquiring an additional 4,259,537 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Grab by 18.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company's stock valued at $76,924,000 after acquiring an additional 3,163,309 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Grab by 4,311.8% in the 3rd quarter. Tidal Investments LLC now owns 445,103 shares of the company's stock valued at $1,691,000 after acquiring an additional 435,014 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Grab in the 3rd quarter valued at $22,434,000. Finally, Leibman Financial Services Inc. purchased a new stake in shares of Grab in the 4th quarter valued at $937,000. Hedge funds and other institutional investors own 55.52% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on GRAB. Hsbc Global Res upgraded Grab from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. China Renaissance downgraded Grab from a "buy" rating to a "hold" rating and set a $5.40 price target on the stock. in a report on Thursday, November 21st. Barclays lifted their price target on Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a report on Thursday. Bank of America raised shares of Grab from an "underperform" rating to a "neutral" rating and increased their target price for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. raised shares of Grab from a "neutral" rating to an "overweight" rating and set a $5.60 target price for the company in a research report on Friday. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Grab presently has a consensus rating of "Moderate Buy" and an average target price of $5.62.
Check Out Our Latest Research Report on Grab
About Grab
(
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Grab Holdings Limited engages in the provision of superapps in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company offers its Grab ecosystem, a single platform with superapps for driver- and merchant-partners and consumers, that allows access to mobility, delivery, digital financial services, and enterprise sector offerings.
Further Reading
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