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

Grab Holdings Limited (NASDAQ:GRAB) saw unusually large options trading activity on Wednesday. Stock traders purchased 26,706 call options on the company. This represents an increase of 61% compared to the average volume of 16,575 call options.

Hedge Funds Weigh In On Grab

Several large investors have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new stake in shares of Grab during the fourth quarter worth about $30,000. Blue Trust Inc. grew its stake 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 buying an additional 3,408 shares during the last quarter. New York Life Investment Management LLC acquired a new position in Grab during the fourth quarter worth approximately $48,000. SeaBridge Investment Advisors LLC purchased a new stake in Grab in the fourth quarter valued at approximately $48,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in Grab in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on GRAB. China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a research report on Thursday, November 21st. Daiwa Capital Markets started coverage on Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price for the company. Evercore ISI upped their price target on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Mizuho lifted their price objective on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.54.

Grab Price Performance

Shares of NASDAQ GRAB opened at $4.56 on Thursday. The stock’s 50-day simple moving average is $4.84 and its 200-day simple moving average is $4.15. 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 market capitalization of $18.36 billion, a PE ratio of -228.00, a price-to-earnings-growth ratio of 1.91 and a beta of 0.90. Grab has a fifty-two week low of $2.98 and a fifty-two week high of $5.72.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same quarter last year, the company earned ($0.02) earnings per share. As a group, equities research analysts forecast that Grab will post -0.02 EPS for the current fiscal year.

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.