Traders Buy High Volume of Grab Call Options (NASDAQ:GRAB)

Grab Holdings Limited (NASDAQ:GRAB) saw some unusual options trading on Thursday. Investors acquired 198,380 call options on the stock. This represents an increase of 651% compared to the typical volume of 26,433 call options.

Analyst Ratings Changes

GRAB has been the subject of several recent research reports. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Mizuho lifted their price target on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Evercore ISI lifted their price target on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. Finally, HSBC upgraded Grab from a “hold” rating to a “buy” rating and decreased their target price for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.62.

Grab Price Performance

Shares of Grab stock opened at $4.90 on Friday. The business has a 50 day simple moving average of $4.76 and a two-hundred day simple moving average of $4.28. Grab has a 12 month low of $2.98 and a 12 month high of $5.72. The stock has a market capitalization of $19.73 billion, a P/E ratio of -245.00, a PEG ratio of 2.23 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67.

Grab (NASDAQ:GRAB) last announced its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The business had revenue of $764.00 million during the quarter, compared to analysts’ expectations of $762.57 million. As a group, analysts predict that Grab will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Grab

Hedge funds have recently made changes to their positions in the company. Uber Technologies Inc acquired a new stake in shares of Grab in the fourth quarter valued at approximately $2,529,462,000. Toyota Motor Corp acquired a new stake in shares of Grab in the fourth quarter valued at approximately $1,052,117,000. Wellington Management Group LLP increased its holdings in shares of Grab by 13.4% in the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after purchasing an additional 14,671,388 shares during the last quarter. Hanwha Asset Management Co. Ltd. acquired a new stake in shares of Grab in the fourth quarter valued at approximately $227,718,000. Finally, Baillie Gifford & Co. increased its holdings in shares of Grab by 10.0% in the fourth quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock valued at $221,942,000 after purchasing an additional 4,259,537 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

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.