Stock Traders Buy High Volume of Call Options on Grab (NASDAQ:GRAB)

Grab Holdings Limited (NASDAQ:GRAB) was the target of unusually large options trading activity on Tuesday. Traders bought 10,837 call options on the stock. This represents an increase of approximately 235% compared to the typical volume of 3,234 call options.

Wall Street Analyst Weigh In

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

Grab Stock Performance

Shares of NASDAQ GRAB traded up $0.17 during trading hours on Tuesday, reaching $4.20. The stock had a trading volume of 9,951,922 shares, compared to its average volume of 23,158,506. The firm has a market cap of $16.48 billion, a price-to-earnings ratio of -60.00 and a beta of 0.83. Grab has a fifty-two week low of $2.90 and a fifty-two week high of $4.21. The firm has a 50-day moving average of $3.48 and a 200-day moving average of $3.49. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03.

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

Institutional Investors Weigh In On Grab

Several hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. acquired a new stake in Grab during the 2nd quarter worth approximately $166,587,000. Coronation Fund Managers Ltd. grew its position in Grab by 116.3% in the 1st quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock valued at $110,032,000 after buying an additional 18,839,407 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Grab in the 1st quarter valued at $52,920,000. Point72 Asset Management L.P. acquired a new stake in shares of Grab in the 2nd quarter worth $57,696,000. Finally, Marshall Wace LLP boosted its holdings in shares of Grab by 39.7% in the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock valued at $107,941,000 after acquiring an additional 8,635,310 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

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.