Grab Holdings Limited (NASDAQ:GRAB) Short Interest Update

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

Grab Price Performance

Shares of NASDAQ:GRAB opened at $4.99 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. Grab has a 52-week low of $2.90 and a 52-week high of $4.99. The business has a 50-day moving average price of $3.93 and a 200-day moving average price of $3.63.

Grab (NASDAQ:GRAB) last issued its earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. The firm had revenue of $716.00 million for the quarter, compared to the consensus estimate of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same quarter in the prior year, the business earned ($0.02) earnings per share. As a group, equities research analysts predict that Grab will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Benchmark reissued a “buy” rating and set a $6.00 target price on shares of Grab in a research report on Tuesday, November 12th. Daiwa Capital Markets started coverage on Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective for the company. JPMorgan Chase & Co. boosted their target price on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Barclays raised their price target on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Evercore ISI upped their price objective on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently 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 bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Grab by 18.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock valued at $76,924,000 after acquiring an additional 3,163,309 shares during the last quarter. Cohen Capital Management Inc. acquired a new position in Grab in the 3rd quarter valued at $1,723,000. Quadrature Capital Ltd lifted its holdings in Grab by 125.0% in the 1st quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company’s stock valued at $3,348,000 after purchasing an additional 590,580 shares in the last quarter. Toronto Dominion Bank boosted its stake in Grab by 43.4% during the 2nd quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company’s stock worth $18,238,000 after purchasing an additional 1,555,579 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Grab by 17.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 883,205 shares of the company’s stock valued at $3,135,000 after acquiring an additional 133,531 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

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.