Short Interest in Grab Holdings Limited (NASDAQ:GRAB) Grows By 9.7%

Grab Holdings Limited (NASDAQ:GRAB) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 66,150,000 shares, a growth of 9.7% from the March 31st total of 60,320,000 shares. Approximately 2.6% of the shares of the stock are sold short. Based on an average daily volume of 25,680,000 shares, the short-interest ratio is presently 2.6 days.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GRAB. Barclays reduced their target price on shares of Grab from $4.50 to $4.30 and set an “overweight” rating for the company in a report on Monday, February 5th. JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $3.60 to $3.80 in a report on Thursday, January 18th. Finally, HSBC reaffirmed a “buy” rating and set a $4.30 target price on shares of Grab in a report on Thursday, April 4th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $5.10.

Institutional Investors Weigh In On Grab

Institutional investors have recently modified their holdings of the stock. Lake Street Advisors Group LLC lifted its stake in Grab by 0.4% in the third quarter. Lake Street Advisors Group LLC now owns 696,416 shares of the company’s stock valued at $2,465,000 after acquiring an additional 2,972 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Grab by 9.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 41,821 shares of the company’s stock valued at $141,000 after purchasing an additional 3,510 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Grab by 9.5% in the third quarter. PNC Financial Services Group Inc. now owns 41,774 shares of the company’s stock worth $148,000 after purchasing an additional 3,632 shares in the last quarter. Public Sector Pension Investment Board increased its position in Grab by 0.6% during the third quarter. Public Sector Pension Investment Board now owns 668,080 shares of the company’s stock worth $2,365,000 after buying an additional 4,200 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Grab by 1.7% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 301,543 shares of the company’s stock valued at $1,067,000 after buying an additional 5,003 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Stock Performance

Shares of GRAB stock opened at $3.50 on Tuesday. Grab has a 1-year low of $2.67 and a 1-year high of $3.92. The company has a current ratio of 3.90, a quick ratio of 3.87 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $3.24 and its 200-day simple moving average is $3.22.

Grab (NASDAQ:GRAB) last released its earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. Grab had a negative return on equity of 6.77% and a negative net margin of 18.43%. The company had revenue of $653.00 million for the quarter, compared to analysts’ expectations of $633.82 million. During the same quarter in the previous year, the business posted ($0.10) EPS. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. On average, sell-side analysts expect that Grab will post 0.01 earnings per share for the current fiscal year.

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.