Grab Sees Unusually High Options Volume (NASDAQ:GRAB)

Grab Holdings Limited (NASDAQ:GRAB) saw unusually large options trading on Thursday. Stock traders purchased 44,246 call options on the stock. This is an increase of approximately 565% compared to the average daily volume of 6,656 call options.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GRAB. Barclays cut their price objective on Grab from $4.50 to $4.30 and set an “overweight” rating for the company in a report on Monday, February 5th. HSBC reaffirmed a “buy” rating and issued a $4.30 target price on shares of Grab in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. raised Grab from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $3.60 to $3.80 in a report on Thursday, January 18th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $5.10.

Institutional Trading of Grab

A number of hedge funds have recently modified their holdings of GRAB. BlackRock Inc. bought a new position in shares of Grab during the 1st quarter worth approximately $161,045,000. Norges Bank bought a new position in shares of Grab during the 4th quarter worth approximately $146,995,000. Barclays PLC lifted its position in shares of Grab by 21,204.4% during the 3rd quarter. Barclays PLC now owns 37,301,928 shares of the company’s stock worth $132,048,000 after buying an additional 37,126,838 shares during the period. Capital Research Global Investors lifted its position in shares of Grab by 50.9% during the 1st quarter. Capital Research Global Investors now owns 108,322,250 shares of the company’s stock worth $379,128,000 after buying an additional 36,542,740 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Grab during the 1st quarter worth approximately $52,920,000. Institutional investors own 55.52% of the company’s stock.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $3.37 on Friday. The business has a 50 day moving average price of $3.24 and a 200 day moving average price of $3.23. Grab has a twelve month low of $2.67 and a twelve month high of $3.92. The company has a market cap of $13.22 billion, a price-to-earnings ratio of -33.70 and a beta of 0.91. The company has a quick ratio of 3.87, a current ratio of 3.90 and a debt-to-equity ratio of 0.10.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. Grab had a negative return on equity of 6.77% and a negative net margin of 18.43%. The company had revenue of $653.00 million during the quarter, compared to the consensus estimate of $633.82 million. During the same quarter last year, the company earned ($0.10) EPS. The company’s quarterly revenue was up 30.1% on a year-over-year basis. Research analysts predict that Grab will post 0.01 earnings per share 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.