Grab Holdings Limited (NASDAQ:GRAB – Get Free Report) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totalling 53,290,000 shares, a decline of 6.2% from the July 15th total of 56,810,000 shares. Based on an average trading volume of 19,450,000 shares, the short-interest ratio is currently 2.7 days. Approximately 2.4% of the company’s stock are short sold.
Institutional Trading of Grab
Several hedge funds have recently bought and sold shares of GRAB. PFG Investments LLC acquired a new stake in shares of Grab in the first quarter valued at approximately $31,000. Dorsey & Whitney Trust CO LLC bought a new position in shares of Grab in the first quarter worth $32,000. Miracle Mile Advisors LLC acquired a new position in shares of Grab during the first quarter valued at $32,000. Meridian Wealth Partners LLC bought a new stake in shares of Grab during the fourth quarter valued at about $36,000. Finally, Sage Rhino Capital LLC acquired a new stake in Grab in the second quarter worth about $38,000. 55.52% of the stock is currently owned by institutional investors.
Grab Stock Performance
Shares of GRAB stock opened at $3.17 on Monday. The company has a quick ratio of 3.22, a current ratio of 3.26 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average of $3.44 and a two-hundred day moving average of $3.40. The company has a market cap of $12.44 billion, a P/E ratio of -45.29 and a beta of 0.81. Grab has a 52 week low of $2.90 and a 52 week high of $3.88.
Wall Street Analyst Weigh In
Several analysts have issued reports on GRAB shares. Mizuho began coverage on shares of Grab in a research report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price objective for the company. Benchmark reiterated a “buy” rating and issued a $6.00 price target on shares of Grab in a research note on Thursday, May 16th. Barclays upped their target price on Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Grab in a research report on Friday, May 17th. They issued a “buy” rating and a $4.50 target price for the company. Finally, Jefferies Financial Group decreased their price target on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $5.02.
Check Out Our Latest Research Report on Grab
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.
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