Short Interest in Grab Holdings Limited (NASDAQ:GRAB) Decreases By 6.7%

Grab Holdings Limited (NASDAQ:GRAB) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 57,940,000 shares, a drop of 6.7% from the October 15th total of 62,130,000 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily volume of 27,780,000 shares, the short-interest ratio is presently 2.1 days.

Grab Trading Up 0.8 %

NASDAQ:GRAB opened at $4.77 on Monday. The firm has a market cap of $18.71 billion, a P/E ratio of -236.50 and a beta of 0.81. The company has a current ratio of 2.70, a quick ratio of 2.97 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $3.90 and its 200-day simple moving average is $3.62. Grab has a 12-month low of $2.90 and a 12-month high of $4.93.

Grab (NASDAQ:GRAB) last released its earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Equities analysts anticipate that Grab will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. grew its holdings in Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after purchasing an additional 3,408 shares during the last quarter. Traynor Capital Management Inc. acquired a new stake in Grab in the third quarter valued at $41,000. Sage Rhino Capital LLC acquired a new stake in Grab in the second quarter valued at $38,000. Glenmede Trust Co. NA acquired a new stake in Grab in the third quarter valued at $53,000. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in Grab by 37.0% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after purchasing an additional 3,795 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GRAB. Benchmark restated a “buy” rating and set a $6.00 target price on shares of Grab in a research note on Tuesday, November 12th. Evercore ISI boosted their price objective on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Mizuho boosted 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. 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 note on Tuesday, November 12th. Finally, Daiwa Capital Markets assumed coverage on Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective for the company. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $5.48.

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.