Grab (NASDAQ:GRAB) Shares Gap Up – What’s Next?

Shares of Grab Holdings Limited (NASDAQ:GRAB) gapped up before the market opened on Tuesday . The stock had previously closed at $4.50, but opened at $4.68. Grab shares last traded at $4.58, with a volume of 4,153,015 shares traded.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GRAB. HSBC cut shares of Grab from a “buy” rating to a “hold” rating and boosted their target price for the company from $4.25 to $5.50 in a research report on Thursday, December 5th. Daiwa Capital Markets assumed coverage on shares of Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price on the stock. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. China Renaissance downgraded Grab from a “buy” rating to a “hold” rating and set a $5.40 price target on the stock. in a research report on Thursday, November 21st. Finally, Benchmark reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Grab in a report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.55.

Grab Price Performance

The business’s fifty day moving average price is $4.95 and its 200 day moving average price is $4.07. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The company had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. During the same period in the prior year, the business earned ($0.02) earnings per share. As a group, analysts anticipate that Grab Holdings Limited will post -0.03 EPS for the current year.

Institutional Trading of Grab

A number of hedge funds have recently made changes to their positions in the company. Empowered Funds LLC raised its holdings in Grab by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock valued at $166,000 after buying an additional 3,147 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after purchasing an additional 3,408 shares during the last quarter. FNY Investment Advisers LLC increased its holdings in Grab by 13.9% in the fourth quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock valued at $135,000 after purchasing an additional 3,500 shares during the period. Asset Management One Co. Ltd. raised its position in Grab by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock worth $2,951,000 after purchasing an additional 3,941 shares during the last quarter. Finally, First Trust Direct Indexing L.P. lifted its holdings in Grab by 34.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock worth $70,000 after buying an additional 4,725 shares during the period. 55.52% of the stock is owned by institutional investors and hedge funds.

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.