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

Grab Holdings Limited (NASDAQ:GRAB) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 69,790,000 shares, an increase of 34.5% from the September 15th total of 51,900,000 shares. Based on an average daily trading volume, of 23,580,000 shares, the days-to-cover ratio is presently 3.0 days. Approximately 3.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $6.00 price target on shares of Grab in a report on Wednesday, September 11th. Jefferies Financial Group decreased their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Mizuho started coverage on shares of Grab in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $4.71.

Grab Price Performance

Shares of NASDAQ:GRAB traded down $0.02 during trading on Tuesday, hitting $3.61. 32,692,742 shares of the company were exchanged, compared to its average volume of 23,057,195. The business’s 50 day moving average is $3.46 and its 200-day moving average is $3.48. Grab has a 1-year low of $2.90 and a 1-year high of $3.88. The company has a market capitalization of $14.16 billion, a P/E ratio of -51.57 and a beta of 0.83. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03.

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

Institutional Investors Weigh In On Grab

Several institutional investors and hedge funds have recently made changes to their positions in GRAB. Miracle Mile Advisors LLC acquired a new position in Grab during the 1st quarter worth approximately $32,000. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Grab in the 1st quarter worth about $32,000. Callan Capital LLC bought a new position in Grab in the 1st quarter valued at about $34,000. Sage Rhino Capital LLC acquired a new position in Grab during the 2nd quarter valued at about $38,000. Finally, Lane & Associates LLC bought a new stake in Grab during the 1st quarter worth approximately $39,000. Institutional investors own 55.52% of the company’s stock.

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.