Grab Holdings Limited (NASDAQ:GRAB) Short Interest Down 6.7% in October

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on GRAB shares. Daiwa Capital Markets started coverage on shares of Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price on the stock. Barclays upped their target price on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their target price on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Mizuho upped their target price on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Benchmark reiterated a “buy” rating and issued a $6.00 target price on shares of Grab in a research note on Tuesday, November 12th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $5.48.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRAB. Blue Trust Inc. increased its holdings in Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after buying an additional 3,408 shares during the last quarter. Sage Rhino Capital LLC purchased a new stake in Grab during the second quarter valued at $38,000. Traynor Capital Management Inc. purchased a new stake in Grab during the third quarter valued at $41,000. Dorsey & Whitney Trust CO LLC raised its stake in Grab by 37.0% during 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 in the last quarter. Finally, Prospect Financial Services LLC purchased a new stake in Grab during the second quarter valued at $53,000. Institutional investors own 55.52% of the company’s stock.

Grab Stock Up 9.4 %

Shares of Grab stock opened at $5.46 on Wednesday. The company has a market cap of $21.42 billion, a price-to-earnings ratio of -273.00 and a beta of 0.81. The company’s 50 day moving average is $3.97 and its 200 day moving average is $3.64. Grab has a twelve month low of $2.90 and a twelve month high of $5.54. 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 issued its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $716.00 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned ($0.02) earnings per share. Research analysts anticipate that Grab will post -0.03 EPS for the current year.

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.