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

Grab Holdings Limited (NASDAQ:GRAB) was the recipient of unusually large options trading on Tuesday. Stock traders acquired 15,532 call options on the stock. This represents an increase of 98% compared to the average volume of 7,853 call options.

Grab Stock Down 0.8 %

Shares of NASDAQ:GRAB opened at $3.50 on Wednesday. Grab has a 1 year low of $2.67 and a 1 year high of $3.92. The stock has a 50-day simple moving average of $3.27 and a 200-day simple moving average of $3.23. 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 stock has a market capitalization of $13.73 billion, a P/E ratio of -35.00 and a beta of 0.81.

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

Institutional Trading of Grab

Several large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Grab during the fourth quarter worth about $146,995,000. Barclays PLC lifted its position in Grab by 21,204.4% during the 3rd quarter. Barclays PLC now owns 37,301,928 shares of the company’s stock worth $132,048,000 after acquiring an additional 37,126,838 shares in the last quarter. Coronation Fund Managers Ltd. boosted its holdings in Grab by 116.3% in the 1st quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock worth $110,032,000 after acquiring an additional 18,839,407 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Grab by 11.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 24,894,289 shares of the company’s stock valued at $83,894,000 after purchasing an additional 2,523,484 shares during the period. Finally, Fullerton Fund Management Co Ltd. lifted its holdings in Grab by 20.9% in the 4th quarter. Fullerton Fund Management Co Ltd. now owns 17,315,851 shares of the company’s stock worth $58,354,000 after buying an additional 2,997,442 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the company. Benchmark restated a “buy” rating and issued a $6.00 price target on shares of Grab in a report on Monday. Barclays lowered their target price on shares of Grab from $4.50 to $4.30 and set an “overweight” rating for the company in a report on Monday, February 5th. HSBC reaffirmed a “buy” rating and set a $4.30 price target on shares of Grab in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. raised shares of Grab from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $3.60 to $3.80 in a research note on Thursday, January 18th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grab has a consensus rating of “Buy” and a consensus target price of $5.10.

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.