Grab Sees Unusually High Options Volume (NASDAQ:GRAB)

Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) was the target of some unusual options trading activity on Monday. Investors acquired 50,235 put options on the company. This represents an increase of 586% compared to the average daily volume of 7,323 put options.

Grab Price Performance

Shares of NASDAQ GRAB remained flat at $3.53 during mid-day trading on Monday. The stock had a trading volume of 12,519,270 shares, compared to its average volume of 23,886,498. 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 has a 1 year low of $2.67 and a 1 year high of $3.92. The firm's 50 day simple moving average is $3.26 and its two-hundred day simple moving average is $3.23. The company has a market cap of $13.85 billion, a price-to-earnings ratio of -35.40 and a beta of 0.81.

Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, topping 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 business 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 posted ($0.10) EPS. The firm's revenue for the quarter was up 30.1% compared to the same quarter last year. Analysts anticipate that Grab will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Grab

Large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in Grab in the 4th quarter worth approximately $146,995,000. Barclays PLC increased its position in Grab by 21,204.4% in the third quarter. Barclays PLC now owns 37,301,928 shares of the company's stock worth $132,048,000 after purchasing an additional 37,126,838 shares during the last quarter. Coronation Fund Managers Ltd. raised 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 purchasing an additional 18,839,407 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Grab during the first quarter valued at $52,920,000. Finally, Ward Ferry Management BVI Ltd bought a new stake in shares of Grab in the 3rd quarter worth about $56,614,000. 55.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GRAB. JPMorgan Chase & Co. raised Grab from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $3.60 to $3.80 in a report on Thursday, January 18th. HSBC reiterated a "buy" rating and issued a $4.30 price objective on shares of Grab in a research note on Thursday, April 4th. Benchmark reaffirmed a "buy" rating and set a $6.00 target price on shares of Grab in a report on Monday. Finally, Barclays dropped their price target on shares of Grab from $4.50 to $4.30 and set an "overweight" rating on the stock in a research note on Monday, February 5th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price 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.