Traders Buy Large Volume of Call Options on Grab (NASDAQ:GRAB)

Grab Holdings Limited (NASDAQ:GRAB) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 15,532 call options on the company. This is an increase of 98% compared to the average volume of 7,853 call options.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. PFG Investments LLC acquired a new position in shares of Grab in the 1st quarter valued at $31,000. Miracle Mile Advisors LLC acquired a new position in Grab in the first quarter valued at $32,000. Callan Capital LLC purchased a new stake in shares of Grab in the first quarter valued at about $34,000. Optas LLC acquired a new stake in Grab during the 4th quarter worth approximately $36,000. Finally, Meridian Wealth Partners LLC acquired a new stake in shares of Grab during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Stock Performance

Shares of GRAB stock traded down $0.04 during trading hours on Tuesday, reaching $3.49. 5,087,062 shares of the stock were exchanged, compared to its average volume of 23,671,781. Grab has a 12-month low of $2.67 and a 12-month high of $3.92. The business’s fifty day moving average is $3.27 and its two-hundred day moving average is $3.23. The company has a quick ratio of 3.87, a current ratio of 3.90 and a debt-to-equity ratio of 0.10.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $633.82 million. During the same quarter last year, the company earned ($0.10) earnings per share. The firm’s revenue for the quarter was up 30.1% on a year-over-year basis. On average, sell-side analysts anticipate that Grab will post 0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. HSBC reissued a “buy” rating and issued a $4.30 price target on shares of Grab in a research note on Thursday, April 4th. Barclays lowered their price objective on Grab from $4.50 to $4.30 and set an “overweight” rating for the company in a research report on Monday, February 5th. Benchmark restated a “buy” rating and issued a $6.00 target price on shares of Grab in a research report on Monday. Finally, JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $3.60 to $3.80 in a report on Thursday, January 18th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $5.10.

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.