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

Grab Holdings Limited (NASDAQ:GRAB) was the target of a large increase in short interest during 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. Approximately 4.7% of the company’s shares are sold short. Based on an average daily trading volume, of 35,020,000 shares, the short-interest ratio is currently 3.1 days.

Grab Price Performance

Shares of NASDAQ GRAB opened at $4.50 on Monday. The business has a 50 day moving average price of $4.95 and a two-hundred day moving average price of $4.05. Grab has a fifty-two week low of $2.94 and a fifty-two week high of $5.72. The firm has a market cap of $18.12 billion, a PE ratio of -225.00, a price-to-earnings-growth ratio of 1.77 and a beta of 0.90. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

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

Institutional Investors Weigh In On Grab

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC lifted its holdings in Grab by 7.7% in the third quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock worth $166,000 after acquiring an additional 3,147 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after purchasing an additional 3,408 shares during the last quarter. FNY Investment Advisers LLC boosted its position in Grab by 13.9% during the 4th quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock valued at $135,000 after purchasing an additional 3,500 shares during the period. Asset Management One Co. Ltd. grew its stake in Grab by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock worth $2,951,000 after buying an additional 3,941 shares during the last quarter. Finally, First Trust Direct Indexing L.P. lifted its stake in Grab by 34.5% in the third quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock valued at $70,000 after buying an additional 4,725 shares during the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on GRAB shares. JPMorgan Chase & Co. upped their price target on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Daiwa Capital Markets began coverage on shares of Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price target on the stock. Benchmark reiterated a “buy” rating and set a $6.00 price objective on shares of Grab in a research note on Tuesday, November 12th. Barclays raised their target price on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Grab presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.55.

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.