Grab Target of Unusually High Options Trading (NASDAQ:GRAB)

Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) saw unusually large options trading activity on Monday. Investors bought 23,267 call options on the stock. This is an increase of approximately 409% compared to the typical volume of 4,571 call options.

Grab Stock Up 3.5 %

NASDAQ GRAB traded up $0.15 during mid-day trading on Monday, reaching $4.38. The stock had a trading volume of 67,582,507 shares, compared to its average volume of 28,577,600. The company has a fifty day moving average price of $3.76 and a 200 day moving average price of $3.57. Grab has a 1 year low of $2.90 and a 1 year high of $4.44. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97.

Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.01). Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The company had revenue of $664.00 million for the quarter, compared to the consensus estimate of $674.17 million. During the same quarter last year, the firm posted ($0.03) earnings per share. The firm's revenue was up 17.1% compared to the same quarter last year. Analysts anticipate that Grab will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Grab

A number of institutional investors and hedge funds have recently made changes to their positions in GRAB. Baillie Gifford & Co. bought a new position in shares of Grab during the second quarter valued at approximately $166,587,000. Point72 Asset Management L.P. purchased a new stake in Grab in the second quarter valued at approximately $57,696,000. Coronation Fund Managers Ltd. boosted its holdings in shares of Grab by 29.7% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company's stock valued at $161,357,000 after acquiring an additional 10,410,574 shares during the last quarter. Marshall Wace LLP grew its position in Grab by 39.7% during the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company's stock worth $107,941,000 after purchasing an additional 8,635,310 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Grab by 129.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,078,843 shares of the company's stock valued at $30,700,000 after acquiring an additional 4,557,800 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GRAB. Jefferies Financial Group dropped their target price on Grab from $5.00 to $4.70 and set a "buy" rating on the stock in a report on Wednesday, July 17th. Benchmark reaffirmed a "buy" rating and set a $6.00 price target on shares of Grab in a research report on Wednesday, September 11th. Finally, Daiwa Capital Markets initiated coverage on shares of Grab in a research note on Wednesday, October 23rd. They issued an "outperform" rating and a $4.60 price objective for the company. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grab currently has a consensus rating of "Buy" and a consensus price target of $4.70.

About Grab

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.