Traders Purchase Large Volume of Call Options on Grab (NASDAQ:GRAB)

Grab Holdings Limited (NASDAQ:GRAB) was the recipient of some unusual options trading on Thursday. Investors bought 198,380 call options on the stock. This represents an increase of approximately 651% compared to the typical daily volume of 26,433 call options.

Grab Price Performance

Shares of NASDAQ GRAB opened at $4.90 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The company has a market cap of $19.73 billion, a PE ratio of -245.00, a P/E/G ratio of 2.23 and a beta of 0.90. The business has a 50-day simple moving average of $4.76 and a two-hundred day simple moving average of $4.28. Grab has a fifty-two week low of $2.98 and a fifty-two week high of $5.72.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. As a group, equities analysts expect that Grab will post -0.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on GRAB. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Barclays raised their price target on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday. China Renaissance downgraded Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective on the stock. in a research report on Thursday, November 21st. HSBC raised Grab from a “hold” rating to a “buy” rating and dropped their price objective for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. Finally, Benchmark reaffirmed a “buy” rating and set a $6.00 price objective on shares of Grab in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.62.

Institutional Investors Weigh In On Grab

A number of institutional investors and hedge funds have recently modified their holdings of the company. Ellevest Inc. lifted its holdings in shares of Grab by 3.3% during the fourth quarter. Ellevest Inc. now owns 82,793 shares of the company’s stock worth $391,000 after purchasing an additional 2,636 shares during the period. Empowered Funds LLC lifted its holdings in shares of Grab by 7.7% during the third quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock worth $166,000 after purchasing an additional 3,147 shares during the period. Blue Trust Inc. lifted its holdings in shares of Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after purchasing an additional 3,408 shares during the period. FNY Investment Advisers LLC lifted its holdings in shares of Grab by 13.9% during the fourth quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock worth $135,000 after purchasing an additional 3,500 shares during the period. Finally, Wedbush Securities Inc. lifted its holdings in shares of Grab by 19.1% during the fourth quarter. Wedbush Securities Inc. now owns 21,800 shares of the company’s stock worth $103,000 after purchasing an additional 3,500 shares during the period. 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.