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

Grab Holdings Limited (NASDAQ:GRAB) was the target of unusually large options trading activity on Monday. Traders bought 50,235 put options on the company. This is an increase of 586% compared to the typical daily volume of 7,323 put options.

Grab Stock Performance

NASDAQ GRAB remained flat at $3.53 on Monday. 12,507,463 shares of the company’s stock were exchanged, compared to its average volume of 23,883,090. Grab has a 52 week low of $2.67 and a 52 week 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 company has a market capitalization of $13.85 billion, a PE ratio of -35.40 and a beta of 0.81. The business has a fifty day moving average price of $3.26 and a 200 day moving average price of $3.23.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Grab had a negative net margin of 18.43% and a negative return on equity of 6.77%. The company had revenue of $653.00 million during the quarter, compared to the consensus estimate of $633.82 million. During the same period in the prior year, the company earned ($0.10) EPS. Grab’s revenue was up 30.1% on a year-over-year basis. Equities research analysts anticipate that Grab will post 0.01 EPS for the current fiscal year.

Institutional Trading of Grab

A number of hedge funds have recently bought and sold shares of GRAB. Norges Bank purchased a new stake in Grab during the fourth quarter valued at about $146,995,000. Barclays PLC lifted its stake in Grab by 21,204.4% during the third quarter. Barclays PLC now owns 37,301,928 shares of the company’s stock valued at $132,048,000 after buying an additional 37,126,838 shares in the last quarter. Coronation Fund Managers Ltd. lifted its stake in Grab by 116.3% during the first quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock valued at $110,032,000 after buying an additional 18,839,407 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Grab during the first quarter valued at about $52,920,000. Finally, Ward Ferry Management BVI Ltd purchased a new stake in shares of Grab in the third quarter worth approximately $56,614,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays reduced their target price on shares of Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a research report on Monday, February 5th. JPMorgan Chase & Co. raised shares of Grab from a “neutral” rating to an “overweight” rating and upped their price target for the company from $3.60 to $3.80 in a report on Thursday, January 18th. Benchmark reissued a “buy” rating and set a $6.00 target price on shares of Grab in a report on Monday. Finally, HSBC reissued a “buy” rating and set a $4.30 target price on shares of Grab in a report on Thursday, April 4th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $5.10.

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.