Short Interest in Grab Holdings Limited (NASDAQ:GRAB) Expands By 29.0%

Grab Holdings Limited (NASDAQ:GRAB) saw a large growth in short interest in August. As of August 15th, there was short interest totalling 68,740,000 shares, a growth of 29.0% from the July 31st total of 53,290,000 shares. Based on an average daily trading volume, of 20,270,000 shares, the days-to-cover ratio is currently 3.4 days. Approximately 3.0% of the shares of the company are short sold.

Institutional Trading of Grab

Institutional investors and hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. purchased a new stake in shares of Grab during the second quarter worth approximately $166,587,000. Coronation Fund Managers Ltd. boosted its stake in Grab by 29.7% during the second quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock worth $161,357,000 after buying an additional 10,410,574 shares during the last quarter. Norges Bank acquired a new position in Grab during the fourth quarter worth $146,995,000. Marshall Wace LLP boosted its stake in Grab by 39.7% during the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after buying an additional 8,635,310 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in Grab by 11.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 24,894,289 shares of the company’s stock worth $83,894,000 after buying an additional 2,523,484 shares during the last quarter. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Stock Up 0.6 %

GRAB traded up $0.02 on Friday, hitting $3.22. The company had a trading volume of 17,869,705 shares, compared to its average volume of 25,970,820. The stock has a fifty day moving average price of $3.37 and a 200-day moving average price of $3.39. Grab has a 12-month low of $2.90 and a 12-month high of $3.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The business had revenue of $664.00 million during the quarter, compared to the consensus estimate of $674.17 million. During the same quarter last year, the company earned ($0.03) earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. On average, equities research analysts forecast that Grab will post -0.01 EPS for the current year.

Wall Street Analyst Weigh In

GRAB has been the subject of a number of recent research reports. Jefferies Financial Group cut their price target on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Mizuho initiated coverage on Grab in a research note on Thursday, June 27th. They set an “outperform” rating and a $5.00 price target for the company. Benchmark restated a “buy” rating and set a $6.00 price target on shares of Grab in a research note on Monday, August 19th. Barclays boosted their price target on Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Grab in a research note on Friday, May 17th. They set a “buy” rating and a $4.50 price objective for the company. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $4.71.

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.