Grab (NASDAQ:GRAB) Shares Down 7.5% – What’s Next?

Grab Holdings Limited (NASDAQ:GRAB)’s share price dropped 7.5% on Monday . The stock traded as low as $3.41 and last traded at $3.45. Approximately 39,821,621 shares were traded during mid-day trading, an increase of 36% from the average daily volume of 29,300,052 shares. The stock had previously closed at $3.73.

Analyst Ratings Changes

GRAB has been the subject of a number of research analyst reports. Citigroup reissued a “buy” rating on shares of Grab in a research report on Tuesday, February 4th. JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and set a $5.60 target price on the stock in a research report on Friday, February 21st. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. Finally, HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and decreased their target price for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Grab has a consensus rating of “Moderate Buy” and a consensus price target of $5.62.

Grab Trading Down 6.7 %

The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average price of $4.64 and a 200-day moving average price of $4.56. The firm has a market capitalization of $14.01 billion, a PE ratio of -174.00, a P/E/G ratio of 2.26 and a beta of 0.88.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The firm had revenue of $764.00 million during the quarter, compared to analysts’ expectations of $762.57 million. Analysts expect that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Institutional Trading of Grab

Several hedge funds and other institutional investors have recently made changes to their positions in GRAB. AdvisorNet Financial Inc increased its holdings in Grab by 13.0% in the first quarter. AdvisorNet Financial Inc now owns 106,742 shares of the company’s stock valued at $484,000 after buying an additional 12,306 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of Grab in the 1st quarter worth approximately $100,000. 111 Capital purchased a new position in Grab in the 4th quarter valued at approximately $7,165,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in Grab during the fourth quarter worth $6,829,000. Finally, Wealthedge Investment Advisors LLC purchased a new stake in Grab during the fourth quarter worth $68,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Company Profile

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.