Grab Holdings Limited (NASDAQ:GRAB) Short Interest Up 9.7% in April

Grab Holdings Limited (NASDAQ:GRAB) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 66,150,000 shares, a growth of 9.7% from the March 31st total of 60,320,000 shares. Approximately 2.6% of the shares of the company are sold short. Based on an average daily volume of 25,680,000 shares, the days-to-cover ratio is currently 2.6 days.

Hedge Funds Weigh In On Grab

A number of institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG boosted its position in shares of Grab by 2.4% during the 3rd quarter. Deutsche Bank AG now owns 2,964,633 shares of the company’s stock worth $10,495,000 after purchasing an additional 69,792 shares in the last quarter. FMR LLC boosted its holdings in Grab by 2,898.6% in the third quarter. FMR LLC now owns 4,581,183 shares of the company’s stock worth $16,217,000 after acquiring an additional 4,428,407 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Grab by 0.6% during the third quarter. Public Sector Pension Investment Board now owns 668,080 shares of the company’s stock valued at $2,365,000 after acquiring an additional 4,200 shares in the last quarter. Kinetic Partners Management LP acquired a new position in shares of Grab during the third quarter worth approximately $23,176,000. Finally, OPTIMAS CAPITAL Ltd bought a new position in shares of Grab in the 4th quarter worth $2,146,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Stock Performance

Shares of GRAB stock opened at $3.50 on Tuesday. Grab has a fifty-two week low of $2.67 and a fifty-two week high of $3.92. The stock’s fifty day moving average price is $3.24 and its two-hundred day moving average price is $3.22. 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 announced its quarterly earnings data 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 earned ($0.10) EPS. Grab’s revenue for the quarter was up 30.1% on a year-over-year basis. On average, equities analysts forecast that Grab will post 0.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $3.60 to $3.80 in a research note on Thursday, January 18th. HSBC reissued a “buy” rating and set a $4.30 target price on shares of Grab in a report on Thursday, April 4th. Finally, Barclays dropped their price target on Grab from $4.50 to $4.30 and set an “overweight” rating for the company in a research note on Monday, February 5th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Grab currently has a consensus rating of “Buy” and a consensus price target of $5.10.

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.