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

Grab Holdings Limited (NASDAQ:GRAB) was the target of some unusual options trading activity on Friday. Traders purchased 107,100 call options on the stock. This represents an increase of 204% compared to the average daily volume of 35,285 call options.

Grab Stock Performance

Grab stock opened at $5.09 on Friday. The company has a market cap of $20.50 billion, a P/E ratio of -254.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.86. Grab has a fifty-two week low of $2.98 and a fifty-two week high of $5.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The firm’s 50 day simple moving average is $4.49 and its 200-day simple moving average is $4.69.

Grab (NASDAQ:GRAB) last released its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. As a group, equities research analysts predict that Grab will post 0.05 EPS for the current year.

Institutional Trading of Grab

A number of institutional investors and hedge funds have recently made changes to their positions in GRAB. Twin Tree Management LP bought a new position in shares of Grab in the fourth quarter worth about $25,000. Garde Capital Inc. acquired a new position in Grab during the first quarter worth $29,000. Global Retirement Partners LLC bought a new position in Grab during the 4th quarter valued at about $30,000. Campbell Capital Management Inc. acquired a new position in shares of Grab in the 4th quarter worth approximately $30,000. Finally, Summit Securities Group LLC grew its holdings in shares of Grab by 63.6% during the first quarter. Summit Securities Group LLC now owns 8,229 shares of the company’s stock worth $37,000 after purchasing an additional 3,199 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GRAB shares. JPMorgan Chase & Co. dropped their target price on Grab from $5.60 to $5.30 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. HSBC upgraded Grab from a “hold” rating to a “buy” rating and cut their price objective for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. CLSA raised Grab to a “moderate buy” rating in a report on Wednesday, April 9th. Benchmark reissued a “buy” rating and issued a $6.00 price target on shares of Grab in a report on Thursday, February 20th. Finally, Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.60.

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.