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

Grab Holdings Limited (NASDAQ:GRAB) saw some unusual options trading activity on Monday. Stock investors bought 23,267 call options on the stock. This represents an increase of approximately 409% compared to the typical daily volume of 4,571 call options.

Grab Stock Performance

Grab stock opened at $4.38 on Tuesday. The stock has a 50-day simple moving average of $3.78 and a 200 day simple moving average of $3.58. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. Grab has a 12-month low of $2.90 and a 12-month high of $4.44. The stock has a market capitalization of $17.18 billion, a price-to-earnings ratio of -87.60 and a beta of 0.81.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $664.00 million during the quarter, compared to analysts’ expectations of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) EPS. On average, research analysts anticipate that Grab will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of Grab

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC bought a new stake in Grab during the 1st quarter worth about $32,000. Blue Trust Inc. raised its holdings in Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after purchasing an additional 3,408 shares during the last quarter. Sage Rhino Capital LLC bought a new stake in shares of Grab in the 2nd quarter valued at about $38,000. Traynor Capital Management Inc. bought a new stake in shares of Grab in the 3rd quarter valued at about $41,000. Finally, Prospect Financial Services LLC bought a new stake in shares of Grab in the 2nd quarter valued at about $53,000. 55.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Benchmark restated a “buy” rating and issued a $6.00 target price on shares of Grab in a research note on Wednesday, September 11th. Daiwa Capital Markets assumed coverage on shares of Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price on the stock. Finally, Jefferies Financial Group reduced their target price on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Grab has a consensus rating of “Buy” and an average 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.