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

Grab Holdings Limited (NASDAQ:GRAB) was the target of unusually large options trading activity on Tuesday. Stock investors bought 10,837 call options on the company. This represents an increase of 235% compared to the average daily volume of 3,234 call options.

Grab Trading Down 0.5 %

Shares of GRAB stock opened at $4.14 on Thursday. The stock has a market cap of $16.24 billion, a price-to-earnings ratio of -59.43 and a beta of 0.83. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. Grab has a fifty-two week low of $2.90 and a fifty-two week high of $4.32. The firm’s 50 day moving average price is $3.52 and its two-hundred day moving average price is $3.50.

Grab (NASDAQ:GRAB) last posted its earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The business had revenue of $664.00 million for the quarter, compared to analysts’ expectations of $674.17 million. During the same period in the previous year, the company posted ($0.03) earnings per share. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, analysts anticipate that Grab will post -0.04 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GRAB. Baillie Gifford & Co. bought a new stake in shares of Grab in the second quarter worth $166,587,000. Coronation Fund Managers Ltd. increased its stake in shares of Grab by 116.3% in the first quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock worth $110,032,000 after buying an additional 18,839,407 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Grab in the first quarter worth $52,920,000. Point72 Asset Management L.P. bought a new stake in shares of Grab in the second quarter worth $57,696,000. Finally, Marshall Wace LLP increased its stake in shares of Grab by 39.7% in the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after buying an additional 8,635,310 shares during the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GRAB has been the subject of a number of recent research reports. Jefferies Financial Group lowered their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Benchmark reissued a “buy” rating and issued a $6.00 target price on shares of Grab in a research report on Wednesday, September 11th. Mizuho began coverage on shares of Grab in a research report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 target price on the stock. Finally, Daiwa Capital Markets began coverage on shares of Grab in a research report on Wednesday. They issued an “outperform” rating and a $4.60 target price on the stock. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grab presently has a consensus rating of “Buy” and a consensus price target of $4.70.

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.