Short Interest in Grab Holdings Limited (NASDAQ:GRAB) Grows By 12.3%

Grab Holdings Limited (NASDAQ:GRAB) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 110,250,000 shares, an increase of 12.3% from the December 15th total of 98,200,000 shares. Currently, 4.7% of the company’s shares are sold short. Based on an average daily trading volume, of 35,020,000 shares, the days-to-cover ratio is currently 3.1 days.

Grab Stock Performance

Grab stock traded up $0.05 during mid-day trading on Friday, reaching $4.50. The company’s stock had a trading volume of 30,380,605 shares, compared to its average volume of 18,274,138. The firm has a market cap of $18.12 billion, a price-to-earnings ratio of -225.00, a PEG ratio of 1.77 and a beta of 0.90. Grab has a twelve month low of $2.94 and a twelve month high of $5.72. The business has a 50 day moving average price of $4.95 and a 200-day moving average price of $4.05. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The business had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. Sell-side analysts predict that Grab will post -0.03 EPS for the current fiscal year.

Institutional Trading of Grab

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in Grab by 53.6% in the 3rd 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. bought a new stake in shares of Grab during the third quarter valued at approximately $41,000. Glenmede Trust Co. NA acquired a new position in shares of Grab during the third quarter worth approximately $53,000. First Trust Direct Indexing L.P. grew its holdings in Grab by 34.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock worth $70,000 after buying an additional 4,725 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Grab in the 2nd quarter valued at approximately $73,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on GRAB shares. Evercore ISI increased their price target on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Benchmark reiterated a “buy” rating and issued a $6.00 target price on shares of Grab in a research note on Tuesday, November 12th. Barclays boosted their price target on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Hsbc Global Res downgraded shares of Grab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Finally, Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $5.55.

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.