Investors Buy High Volume of Grab Call Options (NASDAQ:GRAB)

Grab Holdings Limited (NASDAQ:GRAB) was the recipient of some unusual options trading on Wednesday. Stock investors acquired 26,706 call options on the stock. This represents an increase of 61% compared to the average daily volume of 16,575 call options.

Hedge Funds Weigh In On Grab

Several institutional investors and hedge funds have recently bought and sold shares of GRAB. Kovack Advisors Inc. purchased a new position in shares of Grab in the 4th quarter valued at approximately $233,000. New York Life Investment Management LLC purchased a new position in shares of Grab in the fourth quarter worth $48,000. Los Angeles Capital Management LLC grew its holdings in shares of Grab by 49.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 89,040 shares of the company’s stock valued at $420,000 after buying an additional 29,538 shares during the last quarter. Rothschild Investment LLC lifted its holdings in shares of Grab by 68.2% during the fourth quarter. Rothschild Investment LLC now owns 42,491 shares of the company’s stock worth $201,000 after purchasing an additional 17,235 shares during the period. Finally, IFP Advisors Inc boosted its holdings in shares of Grab by 1,930.6% in the 4th quarter. IFP Advisors Inc now owns 59,151 shares of the company’s stock valued at $279,000 after acquiring an additional 56,238 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Trading Down 6.6 %

Grab stock traded down $0.34 during trading hours on Wednesday, hitting $4.78. The company had a trading volume of 16,300,877 shares, compared to its average volume of 26,062,455. The firm has a market cap of $19.23 billion, a P/E ratio of -238.75, a P/E/G ratio of 1.91 and a beta of 0.90. The company has a 50-day moving average price of $4.85 and a two-hundred day moving average price of $4.15. 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 quick ratio of 2.67 and a current ratio of 2.70.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $716.00 million during the quarter, compared to analyst estimates of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same period in the prior year, the firm earned ($0.02) earnings per share. On average, sell-side analysts anticipate that Grab will post -0.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on GRAB shares. Daiwa Capital Markets began coverage on shares of Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price for the company. Evercore ISI raised their target price on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. lowered Grab from an “overweight” rating to a “neutral” rating in a report on Wednesday. Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Barclays increased 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. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.