Grab Holdings Limited (NASDAQ:GRAB) Short Interest Update

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on GRAB shares. Daiwa Capital Markets started coverage on shares of Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective for the company. Evercore ISI increased their price objective on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their target price on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Benchmark reiterated a “buy” rating and set a $6.00 price target on shares of Grab in a report on Tuesday, November 12th. Finally, Mizuho upped their target price on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target 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. Blue Trust Inc. raised its position in Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after purchasing an additional 3,408 shares in the last quarter. Sage Rhino Capital LLC purchased a new position in Grab in the second quarter worth approximately $38,000. Traynor Capital Management Inc. acquired a new position in Grab during the 3rd quarter worth approximately $41,000. Dorsey & Whitney Trust CO LLC increased its position in shares of Grab by 37.0% in the 2nd 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 during the last quarter. Finally, Prospect Financial Services LLC purchased a new stake in shares of Grab in the 2nd quarter valued at approximately $53,000. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Trading Up 5.5 %

Shares of GRAB opened at $4.99 on Tuesday. 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 company’s 50-day simple moving average is $3.93 and its 200-day simple moving average is $3.63. Grab has a 1 year low of $2.90 and a 1 year high of $4.99.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The company had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $705.40 million. During the same quarter last year, the company posted ($0.02) EPS. On average, research analysts forecast 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.