Grab (NASDAQ:GRAB) Shares Down 3.5% – Time to Sell?

Grab Holdings Limited (NASDAQ:GRAB)’s stock price was down 3.5% on Friday . The stock traded as low as $4.95 and last traded at $5.00. Approximately 12,681,945 shares traded hands during trading, a decline of 51% from the average daily volume of 25,794,330 shares. The stock had previously closed at $5.18.

Wall Street Analyst Weigh In

Several research firms have recently commented on GRAB. Mizuho increased their price objective on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Bank of America downgraded shares of Grab from a “buy” rating to an “underperform” rating and set a $4.90 target price for the company. in a research note on Friday, November 22nd. Barclays boosted their price target on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. China Renaissance cut Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective for the company. in a research report on Thursday, November 21st. Finally, Daiwa Capital Markets began coverage on Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.42.

Grab Stock Down 3.1 %

The stock has a 50-day moving average of $4.22 and a 200-day moving average of $3.72. 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 has a market cap of $20.22 billion, a price-to-earnings ratio of -250.00 and a beta of 0.81.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The company had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. During the same quarter last year, the business earned ($0.02) earnings per share. Sell-side analysts predict that Grab Holdings Limited will post -0.03 EPS for the current fiscal year.

Institutional Trading of Grab

A number of institutional investors and hedge funds have recently made changes to their positions in GRAB. Baillie Gifford & Co. acquired a new position in Grab during the second quarter valued at approximately $166,587,000. Point72 Asset Management L.P. bought a new stake in shares of Grab during the 2nd quarter worth $57,696,000. Wellington Management Group LLP boosted its stake in Grab by 13.4% in the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after buying an additional 14,671,388 shares in the last quarter. Coronation Fund Managers Ltd. grew its position in Grab by 29.7% in the second quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock valued at $161,357,000 after acquiring an additional 10,410,574 shares during the last quarter. Finally, Tree Line Advisors Hong Kong Ltd. acquired a new position in Grab during the third quarter worth about $38,000,000. Institutional investors own 55.52% of the company’s stock.

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.