Grab Holdings Limited (NASDAQ:GRAB) Sees Significant Growth in Short Interest

Grab Holdings Limited (NASDAQ:GRAB) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 110,250,000 shares, a growth of 12.3% from the December 15th total of 98,200,000 shares. Approximately 4.7% of the shares of the company are sold short. Based on an average daily volume of 35,020,000 shares, the short-interest ratio is currently 3.1 days.

Hedge Funds Weigh In On Grab

Several large investors have recently modified their holdings of the stock. Blue Trust Inc. lifted its position in Grab by 53.6% in the third 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. Traynor Capital Management Inc. purchased a new stake in shares of Grab in the third quarter valued at $41,000. Glenmede Trust Co. NA bought a new stake in shares of Grab in the 3rd quarter worth about $53,000. First Trust Direct Indexing L.P. boosted its stake in shares of Grab by 34.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock worth $70,000 after purchasing an additional 4,725 shares during the period. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of Grab during the 2nd quarter worth about $73,000. Institutional investors own 55.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. China Renaissance downgraded Grab from a “buy” rating to a “hold” rating and set a $5.40 target price on the stock. in a research report on Thursday, November 21st. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. boosted their price objective on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Hsbc Global Res lowered Grab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Mizuho boosted their price target on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Grab presently has a consensus rating of “Moderate Buy” and an average price target of $5.55.

Grab Price Performance

Shares of NASDAQ GRAB traded up $0.05 during midday trading on Friday, reaching $4.50. 30,380,605 shares of the stock traded hands, compared to its average volume of 18,274,138. The company’s 50 day moving average is $4.95 and its 200 day moving average is $4.05. Grab has a one year low of $2.94 and a one year high of $5.72. The stock has a market capitalization of $18.12 billion, a PE ratio of -225.00, a P/E/G ratio of 1.77 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67.

Grab (NASDAQ:GRAB) last announced 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 firm had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. During the same quarter last year, the firm earned ($0.02) EPS. On average, equities research analysts anticipate that Grab will post -0.03 earnings per share for the current year.

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.