Grab Holdings Limited (NASDAQ:GRAB) Short Interest Up 34.5% in September

Grab Holdings Limited (NASDAQ:GRAB) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 69,790,000 shares, an increase of 34.5% from the September 15th total of 51,900,000 shares. Based on an average daily trading volume, of 23,580,000 shares, the short-interest ratio is presently 3.0 days. Approximately 3.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GRAB. Jefferies Financial Group dropped their target price on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Mizuho began coverage on Grab in a report on Thursday, June 27th. They set an “outperform” rating and a $5.00 price target for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $6.00 price target on shares of Grab in a report on Wednesday, September 11th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $4.71.

Grab Trading Down 0.6 %

GRAB traded down $0.02 during mid-day trading on Tuesday, reaching $3.61. The stock had a trading volume of 32,692,742 shares, compared to its average volume of 23,057,195. The stock has a market capitalization of $14.16 billion, a P/E ratio of -51.57 and a beta of 0.83. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00. The firm’s fifty day simple moving average is $3.46 and its two-hundred day simple moving average is $3.48. Grab has a 52 week low of $2.90 and a 52 week high of $3.88.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $664.00 million for the quarter, compared to analyst estimates of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company earned ($0.03) EPS. On average, equities analysts predict that Grab will post -0.04 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GRAB. Baillie Gifford & Co. bought a new position in shares of Grab in the 2nd quarter worth $166,587,000. Coronation Fund Managers Ltd. boosted its position in shares of Grab by 116.3% in the 1st quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock worth $110,032,000 after purchasing an additional 18,839,407 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Grab in the 1st quarter worth $52,920,000. Point72 Asset Management L.P. bought a new position in shares of Grab in the 2nd quarter worth $57,696,000. Finally, Marshall Wace LLP boosted its position in shares of Grab by 39.7% in the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after purchasing an additional 8,635,310 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors.

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.