Grab Holdings Limited (NASDAQ:GRAB) Short Interest Up 12.3% in December

Grab Holdings Limited (NASDAQ:GRAB) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 110,250,000 shares, a growth of 12.3% from the December 15th total of 98,200,000 shares. Based on an average daily volume of 35,020,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 4.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GRAB. China Renaissance downgraded Grab from a “buy” rating to a “hold” rating and set a $5.40 target price on the stock. in a research note on Thursday, November 21st. Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. HSBC lowered shares of Grab from a “buy” rating to a “hold” rating and increased their target price for the company from $4.25 to $5.50 in a research report on Thursday, December 5th. Hsbc Global Res lowered shares of Grab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Mizuho raised their price objective on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $5.55.

Grab Stock Performance

Shares of NASDAQ GRAB opened at $4.50 on Monday. Grab has a 52-week low of $2.94 and a 52-week high of $5.72. The stock has a market capitalization of $18.12 billion, a price-to-earnings ratio of -225.00, a PEG ratio of 1.77 and a beta of 0.90. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $4.95 and its 200 day simple moving average is $4.05.

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

Hedge Funds Weigh In On Grab

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after acquiring an additional 3,408 shares during the period. Traynor Capital Management Inc. purchased a new stake in shares of Grab in the third quarter worth approximately $41,000. Glenmede Trust Co. NA acquired a new stake in shares of Grab during the third quarter worth approximately $53,000. First Trust Direct Indexing L.P. grew its position in Grab by 34.5% during the third quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock valued at $70,000 after purchasing an additional 4,725 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Grab in the 2nd quarter valued at approximately $73,000. 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.