Grab Holdings Limited (NASDAQ:GRAB) Sees Significant Growth in Short Interest

Grab Holdings Limited (NASDAQ:GRAB) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 123,410,000 shares, an increase of 7.5% from the January 15th total of 114,840,000 shares. Approximately 5.2% of the shares of the company are short sold. Based on an average daily trading volume, of 35,400,000 shares, the short-interest ratio is currently 3.5 days.

Institutional Investors Weigh In On Grab

A number of institutional investors and hedge funds have recently made changes to their positions in the company. JT Stratford LLC bought a new stake in shares of Grab during the fourth quarter worth $286,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Grab by 17.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,582,517 shares of the company’s stock valued at $68,829,000 after purchasing an additional 2,120,034 shares during the last quarter. USS Investment Management Ltd bought a new stake in Grab in the fourth quarter valued at about $3,109,000. Voloridge Investment Management LLC bought a new stake in Grab in the fourth quarter valued at about $41,125,000. Finally, Worldquant Millennium Advisors LLC increased its holdings in Grab by 1,207.7% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 2,179,111 shares of the company’s stock valued at $10,285,000 after purchasing an additional 2,012,472 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

Grab Trading Up 7.9 %

Shares of GRAB stock traded up $0.39 on Tuesday, reaching $5.29. 110,836,436 shares of the stock were exchanged, compared to its average volume of 32,523,701. The stock has a market cap of $21.28 billion, a PE ratio of -264.25, a P/E/G ratio of 1.95 and a beta of 0.90. Grab has a one year low of $2.98 and a one 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 stock has a 50 day moving average price of $4.78 and a 200 day moving average price of $4.26.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered Grab from an “overweight” rating to a “neutral” rating in a report on Wednesday, February 5th. Barclays lifted their price objective on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Mizuho lifted their price objective on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong 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 $5.54.

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.