Grab (NASDAQ:GRAB) Trading Up 5.5% – Here’s What Happened

Grab Holdings Limited (NASDAQ:GRAB) shares traded up 5.5% during trading on Wednesday . The stock traded as high as $5.07 and last traded at $5.05. 25,365,736 shares traded hands during trading, a decline of 9% from the average session volume of 27,902,209 shares. The stock had previously closed at $4.78.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and lowered their target price for the company from $5.50 to $5.45 in a research note on Tuesday, February 4th. China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective on the stock. in a research note on Thursday, November 21st. Daiwa Capital Markets started coverage on shares of Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price for the company. Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Finally, Barclays boosted their price objective on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.54.

Grab Trading Up 4.5 %

The stock has a fifty day simple moving average of $4.81 and a 200 day simple moving average of $4.19. The firm has a market capitalization of $20.11 billion, a P/E ratio of -249.85, a PEG ratio of 1.95 and a beta of 0.90. 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 released its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same quarter last year, the business posted ($0.02) earnings per share. As a group, research analysts forecast that Grab Holdings Limited will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Grab

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hanwha Asset Management Co. Ltd. purchased a new stake in shares of Grab during the 4th quarter worth approximately $227,718,000. Perpetual Ltd bought a new stake in Grab in the fourth quarter worth $213,177,000. Arrowstreet Capital Limited Partnership raised its stake in Grab by 5,066.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 33,914,101 shares of the company’s stock valued at $160,075,000 after purchasing an additional 33,257,610 shares in the last quarter. Norges Bank bought a new position in Grab during the fourth quarter valued at $145,927,000. Finally, Wellington Management Group LLP grew its stake in shares of Grab by 13.4% in the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after buying an additional 14,671,388 shares in the last quarter. 55.52% of the stock is owned by institutional investors.

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.