Grab Holdings Limited (NASDAQ:GRAB) Short Interest Up 7.5% in January

Grab Holdings Limited (NASDAQ:GRAB) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 123,410,000 shares, a growth of 7.5% from the January 15th total of 114,840,000 shares. Based on an average daily trading volume, of 35,400,000 shares, the days-to-cover ratio is presently 3.5 days. Currently, 5.2% of the company’s stock are sold short.

Grab Stock Performance

Shares of NASDAQ GRAB traded up $0.39 during midday trading on Tuesday, hitting $5.29. 110,836,436 shares of the company’s stock were exchanged, compared to its average volume of 32,523,701. Grab has a twelve month low of $2.98 and a twelve month high of $5.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The firm has a market cap of $21.28 billion, a P/E ratio of -264.25, a PEG ratio of 1.95 and a beta of 0.90. The stock’s 50 day moving average price is $4.78 and its 200-day moving average price is $4.26.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GRAB. Baillie Gifford & Co. grew its position in Grab by 10.0% in the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock valued at $221,942,000 after buying an additional 4,259,537 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Grab by 18.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock worth $76,924,000 after acquiring an additional 3,163,309 shares during the period. Tidal Investments LLC increased its stake in shares of Grab by 4,311.8% during the third quarter. Tidal Investments LLC now owns 445,103 shares of the company’s stock valued at $1,691,000 after acquiring an additional 435,014 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Grab during the third quarter worth approximately $22,434,000. Finally, Leibman Financial Services Inc. acquired a new stake in Grab in the fourth quarter worth approximately $937,000. Institutional investors own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

GRAB has been the subject of several research reports. Evercore ISI lifted their target price on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Mizuho lifted their price objective on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Barclays increased their target price on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Benchmark reaffirmed a “buy” rating and set a $6.00 price objective on shares of Grab in a research report on Tuesday, November 12th. Finally, Daiwa Capital Markets initiated coverage on shares of Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price on the stock. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.54.

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.