Short Interest in Grab Holdings Limited (NASDAQ:GRAB) Rises By 12.3%

Grab Holdings Limited (NASDAQ:GRAB) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 110,250,000 shares, an increase of 12.3% from the December 31st total of 98,200,000 shares. Approximately 4.7% of the company’s shares are short sold. Based on an average trading volume of 35,020,000 shares, the short-interest ratio is presently 3.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in Grab by 18.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock worth $76,924,000 after purchasing an additional 3,163,309 shares during the period. Tidal Investments LLC boosted its holdings in shares of Grab by 4,311.8% in the 3rd quarter. Tidal Investments LLC now owns 445,103 shares of the company’s stock worth $1,691,000 after buying an additional 435,014 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Grab in the 3rd quarter valued at about $22,434,000. Leibman Financial Services Inc. bought a new stake in shares of Grab during the fourth quarter valued at about $937,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Grab in the third quarter worth approximately $2,757,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Price Performance

Shares of GRAB stock traded down $0.04 during midday trading on Monday, reaching $4.54. 20,563,032 shares of the company traded hands, compared to its average volume of 24,194,771. The firm’s 50 day simple moving average is $4.85 and its two-hundred day simple moving average is $4.13. Grab has a 1-year low of $2.98 and a 1-year high of $5.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The firm has a market cap of $18.28 billion, a PE ratio of -227.00, a price-to-earnings-growth ratio of 1.91 and a beta of 0.90.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data 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 period in the previous year, the company earned ($0.02) EPS. On average, equities research analysts expect that Grab will post -0.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on GRAB. Evercore ISI lifted their price target on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price target on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. HSBC downgraded shares of Grab from a “buy” rating to a “hold” rating and boosted their target price for the stock from $4.25 to $5.50 in a report on Thursday, December 5th. Barclays boosted their target price on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Hsbc Global Res lowered shares of Grab from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.55.

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.