Grab Sees Unusually Large Options Volume (NASDAQ:GRAB)

Grab Holdings Limited (NASDAQ:GRAB) was the target of unusually large options trading activity on Monday. Stock traders bought 18,674 call options on the stock. This represents an increase of 54% compared to the typical daily volume of 12,099 call options.

Grab Trading Up 3.7 %

Shares of NASDAQ GRAB opened at $5.33 on Tuesday. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $4.42 and its two-hundred day moving average price is $3.80. Grab has a 52-week low of $2.90 and a 52-week high of $5.72. The stock has a market capitalization of $21.46 billion, a P/E ratio of -266.50 and a beta of 0.90.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $705.40 million. During the same period in the previous year, the business posted ($0.02) EPS. On average, analysts anticipate that Grab will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

Several large investors have recently made changes to their positions in GRAB. Baillie Gifford & Co. acquired a new stake in shares of Grab in the 2nd quarter worth approximately $166,587,000. Point72 Asset Management L.P. acquired a new stake in Grab in the second quarter worth approximately $57,696,000. Wellington Management Group LLP boosted its stake in Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after purchasing an additional 14,671,388 shares in the last quarter. Coronation Fund Managers Ltd. increased its position in shares of Grab by 29.7% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock valued at $161,357,000 after purchasing an additional 10,410,574 shares during the period. Finally, Tree Line Advisors Hong Kong Ltd. bought a new stake in shares of Grab in the 3rd quarter worth $38,000,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GRAB. Barclays upped their price objective on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Benchmark reiterated a “buy” rating and set a $6.00 price objective on shares of Grab in a report on Tuesday, November 12th. China Renaissance downgraded Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective for the company. in a report on Thursday, November 21st. Evercore ISI lifted their target price on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Daiwa Capital Markets assumed coverage on Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Grab presently has an average rating of “Moderate Buy” and an average target price of $5.53.

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.