Grab Holdings Limited (NASDAQ:GRAB) Short Interest Up 9.7% in April

Grab Holdings Limited (NASDAQ:GRAB) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 66,150,000 shares, an increase of 9.7% from the March 31st total of 60,320,000 shares. Currently, 2.6% of the company’s stock are sold short. Based on an average daily trading volume, of 25,680,000 shares, the days-to-cover ratio is currently 2.6 days.

Hedge Funds Weigh In On Grab

Several institutional investors and hedge funds have recently modified their holdings of the stock. Intelligence Driven Advisers LLC acquired a new position in shares of Grab in the 1st quarter valued at about $53,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Grab in the 1st quarter valued at about $52,920,000. WCM Investment Management LLC acquired a new position in shares of Grab in the 1st quarter valued at about $31,955,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Grab by 31.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 728,089 shares of the company’s stock valued at $2,286,000 after buying an additional 173,718 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Grab by 2,109.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,006,302 shares of the company’s stock valued at $9,440,000 after buying an additional 2,870,238 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Stock Down 0.3 %

Grab stock opened at $3.49 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.87 and a current ratio of 3.90. The business’s 50-day simple moving average is $3.24 and its two-hundred day simple moving average is $3.22. The company has a market cap of $13.69 billion, a PE ratio of -34.90 and a beta of 0.91. Grab has a fifty-two week low of $2.67 and a fifty-two week high of $3.92.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. The business had revenue of $653.00 million for the quarter, compared to the consensus estimate of $633.82 million. Grab had a negative return on equity of 6.77% and a negative net margin of 18.43%. The company’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) EPS. Equities analysts anticipate that Grab will post 0.01 EPS for the current year.

Analyst Ratings Changes

GRAB has been the topic of several research analyst reports. Barclays dropped their target price on Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a research note on Monday, February 5th. JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $3.60 to $3.80 in a research note on Thursday, January 18th. Finally, HSBC restated a “buy” rating and set a $4.30 target price on shares of Grab in a research note on Thursday, April 4th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $5.10.

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.