Grab Target of Unusually High Options Trading (NASDAQ:GRAB)

Grab Holdings Limited (NASDAQ:GRAB) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 39,854 call options on the company. This represents an increase of 873% compared to the average daily volume of 4,096 call options.

Grab Trading Up 2.2 %

Shares of GRAB traded up $0.08 during mid-day trading on Wednesday, reaching $3.65. The company’s stock had a trading volume of 76,597,656 shares, compared to its average volume of 22,432,527. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03. Grab has a 52 week low of $2.90 and a 52 week high of $3.77. The company’s fifty day moving average price is $3.33 and its two-hundred day moving average price is $3.40. The stock has a market cap of $14.32 billion, a PE ratio of -51.43 and a beta of 0.81.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $664.00 million during the quarter, compared to analyst estimates of $674.17 million. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The company’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) earnings per share. On average, analysts predict that Grab will post -0.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GRAB shares. Jefferies Financial Group decreased their target price on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Barclays upped their price objective on shares of Grab from $4.30 to $4.70 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Benchmark reiterated a “buy” rating and set a $6.00 target price on shares of Grab in a research report on Wednesday, September 11th. Finally, Mizuho initiated coverage on shares of Grab in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target on the stock. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $4.71.

Hedge Funds Weigh In On Grab

Institutional investors and hedge funds have recently bought and sold shares of the stock. Miracle Mile Advisors LLC bought a new stake in Grab in the 1st quarter worth $32,000. Dorsey & Whitney Trust CO LLC purchased a new position in Grab during the 1st quarter valued at about $32,000. Callan Capital LLC bought a new position in Grab during the 1st quarter valued at approximately $34,000. Sage Rhino Capital LLC purchased a new stake in Grab in the 2nd quarter worth approximately $38,000. Finally, Lane & Associates LLC bought a new stake in shares of Grab in the 1st quarter worth approximately $39,000. 55.52% of the stock is currently owned by institutional investors.

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.