Grab Holdings Limited (NASDAQ:GRAB – Get Free Report) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 110,250,000 shares, a growth of 12.3% from the December 15th total of 98,200,000 shares. Approximately 4.7% of the company’s shares are short sold. Based on an average daily trading volume, of 35,020,000 shares, the short-interest ratio is presently 3.1 days.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on GRAB. Benchmark reissued a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Tuesday, November 12th. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $4.90 to $5.10 in a report on Tuesday, January 7th. Mizuho raised their price objective on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Daiwa Capital Markets began coverage on Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price for the company. Finally, Hsbc Global Res downgraded Grab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.55.
Get Our Latest Analysis on GRAB
Grab Stock Up 1.1 %
Grab (NASDAQ:GRAB – Get Free Report) last released its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The business had revenue of $716.00 million during the quarter, compared to analyst estimates of $705.40 million. During the same period in the prior year, the firm posted ($0.02) earnings per share. On average, research analysts expect that Grab will post -0.03 earnings per share for the current year.
Institutional Investors Weigh In On Grab
A number of hedge funds and other institutional investors have recently bought and sold shares of GRAB. Blue Trust Inc. increased its position in shares of Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after purchasing an additional 3,408 shares in the last quarter. Traynor Capital Management Inc. acquired a new position in Grab during the 3rd quarter valued at about $41,000. Glenmede Trust Co. NA purchased a new stake in Grab in the third quarter valued at about $53,000. First Trust Direct Indexing L.P. boosted its holdings in Grab by 34.5% in the third quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock worth $70,000 after acquiring an additional 4,725 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Grab during the second quarter worth about $73,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.
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.
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