Investors Buy Large Volume of Call Options on Grab (NASDAQ:GRAB)

Grab Holdings Limited (NASDAQ:GRAB) was the recipient of some unusual options trading activity on Tuesday. Traders bought 15,532 call options on the company. This represents an increase of 98% compared to the typical daily volume of 7,853 call options.

Grab Stock Down 1.1 %

GRAB traded down $0.04 during trading on Tuesday, reaching $3.49. 5,087,062 shares of the company were exchanged, compared to its average volume of 23,671,781. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.90 and a quick ratio of 3.87. Grab has a 52 week low of $2.67 and a 52 week high of $3.92. The firm has a 50 day moving average of $3.27 and a 200 day moving average of $3.23.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. Grab had a negative net margin of 18.43% and a negative return on equity of 6.77%. The business had revenue of $653.00 million for the quarter, compared to analysts’ expectations of $633.82 million. During the same quarter last year, the company earned ($0.10) EPS. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, equities research analysts expect that Grab will post 0.01 earnings per share for the current year.

Hedge Funds Weigh In On Grab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRAB. PFG Investments LLC bought a new position in shares of Grab in the first quarter valued at approximately $31,000. Miracle Mile Advisors LLC purchased a new stake in shares of Grab during the first quarter valued at $32,000. Callan Capital LLC purchased a new stake in shares of Grab during the first quarter valued at $34,000. Optas LLC purchased a new position in Grab in the 4th quarter worth about $36,000. Finally, Meridian Wealth Partners LLC acquired a new stake in Grab during the 4th quarter worth about $36,000. 55.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

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