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. Investors bought 22,266 call options on the stock. This represents an increase of approximately 48% compared to the average daily volume of 14,998 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GRAB shares. Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Evercore ISI boosted their price target on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Hsbc Global Res downgraded Grab from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Mizuho boosted their target price on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Daiwa Capital Markets started coverage on shares of Grab in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective for the company. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Grab presently has an average rating of “Moderate Buy” and an average target price of $5.55.

Grab Stock Performance

NASDAQ:GRAB traded up $0.08 during mid-day trading on Tuesday, hitting $4.58. 11,429,305 shares of the stock were exchanged, compared to its average volume of 22,776,752. The firm’s 50-day simple moving average is $4.96 and its 200 day simple moving average is $4.06. The stock has a market capitalization of $18.42 billion, a price-to-earnings ratio of -228.25, a price-to-earnings-growth ratio of 1.77 and a beta of 0.90. Grab has a fifty-two week low of $2.98 and a fifty-two week high of $5.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70.

Grab (NASDAQ:GRAB) last announced its earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The company had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $705.40 million. During the same quarter in the previous year, the business posted ($0.02) earnings per share. As a group, equities analysts anticipate that Grab will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP raised its position in Grab by 13.4% during the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after purchasing an additional 14,671,388 shares in the last quarter. Perpetual Ltd acquired a new stake in shares of Grab during the 4th quarter worth approximately $213,177,000. State Street Corp increased its stake in Grab by 2.3% in the third quarter. State Street Corp now owns 43,570,388 shares of the company’s stock valued at $165,567,000 after purchasing an additional 967,233 shares in the last quarter. Coronation Fund Managers Ltd. grew its stake in shares of Grab by 11.4% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 33,735,725 shares of the company’s stock valued at $128,196,000 after buying an additional 3,442,581 shares during the period. Finally, Marshall Wace LLP increased its position in Grab by 39.7% in the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock valued at $107,941,000 after buying an additional 8,635,310 shares in the last quarter. 55.52% of the stock is 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.