Short Interest in Grab Holdings Limited (NASDAQ:GRAB) Declines By 6.2%

Grab Holdings Limited (NASDAQ:GRAB) 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.

Grab (NASDAQ:GRAB) last issued its earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Grab had a negative return on equity of 4.62% and a negative net margin of 11.86%. The firm had revenue of $664.00 million for the quarter, compared to analyst estimates of $674.17 million. During the same period last year, the company earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, analysts anticipate that Grab will post -0.03 EPS for the current year.

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.

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.