Stock Traders Purchase Large Volume of Grab Call Options (NASDAQ:GRAB)

Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) saw some unusual options trading on Tuesday. Investors bought 22,266 call options on the company. This is an increase of 48% compared to the typical volume of 14,998 call options.

Grab Stock Up 2.4 %

NASDAQ GRAB traded up $0.11 during trading on Tuesday, hitting $4.61. The stock had a trading volume of 33,993,783 shares, compared to its average volume of 24,833,445. Grab has a 12 month low of $2.98 and a 12 month high of $5.72. 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 company's 50-day moving average price is $4.95 and its two-hundred day moving average price is $4.07. The company has a market capitalization of $18.56 billion, a PE ratio of -230.50, a P/E/G ratio of 1.77 and a beta of 0.90.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The business had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. As a group, sell-side analysts forecast that Grab will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Grab

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its stake in Grab by 18.5% in the third 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 lifted its stake in 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 purchasing an additional 435,014 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Grab during the third quarter worth about $22,434,000. Leibman Financial Services Inc. acquired a new position in Grab during the fourth quarter worth approximately $937,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Grab during the third quarter worth approximately $2,757,000. Institutional investors own 55.52% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays increased their price target on shares of Grab from $4.70 to $5.50 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. China Renaissance cut shares of Grab from a "buy" rating to a "hold" rating and set a $5.40 price target on the stock. in a research report on Thursday, November 21st. Daiwa Capital Markets assumed coverage on shares of Grab in a report on Wednesday, October 23rd. They issued an "outperform" rating and a $4.60 price target for the company. Hsbc Global Res downgraded Grab from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 5th. Finally, Bank of America raised Grab from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $5.55.

Grab Company Profile

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.