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

Grab Holdings Limited (NASDAQ:GRAB) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 69,790,000 shares, a growth of 34.5% from the September 15th total of 51,900,000 shares. Currently, 3.0% of the company’s shares are sold short. Based on an average daily volume of 23,580,000 shares, the short-interest ratio is currently 3.0 days.

Grab Stock Down 0.6 %

Shares of GRAB traded down $0.02 during midday trading on Tuesday, hitting $3.61. The stock had a trading volume of 32,692,742 shares, compared to its average volume of 23,057,195. The company has a 50 day simple moving average of $3.46 and a two-hundred day simple moving average of $3.48. Grab has a twelve month low of $2.90 and a twelve month high of $3.88. The firm has a market cap of $14.16 billion, a price-to-earnings ratio of -51.57 and a beta of 0.83. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The firm had revenue of $664.00 million for the quarter, compared to the consensus estimate of $674.17 million. During the same quarter last year, the business posted ($0.03) EPS. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, analysts anticipate that Grab will post -0.04 EPS for the current year.

Institutional Trading of Grab

Several hedge funds and other institutional investors have recently modified their holdings of GRAB. Miracle Mile Advisors LLC acquired a new stake in shares of Grab in the first quarter valued at about $32,000. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Grab in the first quarter valued at about $32,000. Callan Capital LLC acquired a new stake in shares of Grab in the first quarter valued at about $34,000. Sage Rhino Capital LLC acquired a new stake in shares of Grab in the second quarter valued at about $38,000. Finally, Lane & Associates LLC acquired a new stake in shares of Grab in the first quarter valued at about $39,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Jefferies Financial Group reduced their target price on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Benchmark reiterated a “buy” rating and set a $6.00 target price on shares of Grab in a report on Wednesday, September 11th. Finally, Mizuho assumed coverage on Grab in a report on Thursday, June 27th. They set an “outperform” rating and a $5.00 target price on the stock. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average 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.