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

Grab Holdings Limited (NASDAQ:GRAB) saw some unusual options trading activity on Wednesday. Traders bought 39,854 call options on the company. This is an increase of 873% compared to the typical daily volume of 4,096 call options.

Institutional Trading of Grab

Hedge funds have recently bought and sold shares of the business. Miracle Mile Advisors LLC purchased a new stake in shares of Grab in the first quarter worth approximately $32,000. Dorsey & Whitney Trust CO LLC purchased a new stake in Grab in the 1st quarter valued at $32,000. Callan Capital LLC bought a new position in Grab during the 1st quarter valued at $34,000. Sage Rhino Capital LLC purchased a new position in Grab during the 2nd quarter worth $38,000. Finally, Lane & Associates LLC bought a new stake in shares of Grab in the 1st quarter worth $39,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Price Performance

Shares of NASDAQ GRAB opened at $3.66 on Friday. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average price is $3.33 and its 200-day moving average price is $3.40. The firm has a market capitalization of $14.36 billion, a P/E ratio of -52.29 and a beta of 0.81. Grab has a 1-year low of $2.90 and a 1-year high of $3.77.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate 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 return on equity of 3.35% and a negative net margin of 8.24%. The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) earnings per share. Equities research analysts anticipate that Grab will post -0.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GRAB has been the subject of a number of analyst reports. Jefferies Financial Group lowered their target price on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Benchmark reissued a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Wednesday, September 11th. Finally, Mizuho initiated coverage on Grab in a research report on Thursday, June 27th. They set an “outperform” rating and a $5.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $4.71.

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.