Grab Holdings Limited (NASDAQ:GRAB) Sees Significant Increase in Short Interest

Grab Holdings Limited (NASDAQ:GRAB) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 69,790,000 shares, a growth of 34.5% from the September 15th total of 51,900,000 shares. Based on an average daily volume of 23,580,000 shares, the short-interest ratio is currently 3.0 days. Currently, 3.0% of the company’s stock are sold short.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating and issued a $6.00 target price on shares of Grab in a report on Wednesday, September 11th. Jefferies Financial Group decreased their target price on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Mizuho assumed coverage on shares of Grab in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $4.71.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in shares of Grab by 1.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,648,194 shares of the company’s stock worth $25,774,000 after acquiring an additional 126,365 shares in the last quarter. Quadrature Capital Ltd increased its stake in shares of Grab by 125.0% in the first quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company’s stock worth $3,348,000 after buying an additional 590,580 shares during the period. Toronto Dominion Bank raised its holdings in Grab by 43.4% during the 2nd quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company’s stock valued at $18,238,000 after buying an additional 1,555,579 shares during the last quarter. Public Sector Pension Investment Board boosted its position in Grab by 17.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 883,205 shares of the company’s stock valued at $3,135,000 after buying an additional 133,531 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Grab by 30.1% in the 2nd quarter. SG Americas Securities LLC now owns 3,796,898 shares of the company’s stock worth $13,479,000 after acquiring an additional 878,375 shares during the last quarter. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Stock Performance

Grab stock traded down $0.02 during midday trading on Tuesday, reaching $3.61. The stock had a trading volume of 32,692,742 shares, compared to its average volume of 23,057,195. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $14.16 billion, a PE ratio of -51.57 and a beta of 0.83. Grab has a 12 month low of $2.90 and a 12 month high of $3.88. The firm’s 50-day moving average price is $3.46 and its 200 day moving average price is $3.48.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $664.00 million during the quarter, compared to the consensus estimate of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.03) EPS. As a group, research analysts predict that Grab will post -0.04 earnings per share for the current fiscal year.

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.