Grab (NASDAQ:GRAB) Shares Gap Down – Here’s Why

Grab Holdings Limited (NASDAQ:GRAB) shares gapped down prior to trading on Thursday . The stock had previously closed at $5.34, but opened at $5.08. Grab shares last traded at $4.89, with a volume of 27,775,310 shares trading hands.

Analyst Upgrades and Downgrades

GRAB has been the subject of a number of research analyst reports. Barclays upped 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. HSBC upgraded Grab from a “hold” rating to a “buy” rating and lowered their price objective for the company from $5.50 to $5.45 in a research note on Tuesday, February 4th. China Renaissance cut 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. Benchmark reissued a “buy” rating and set a $6.00 price objective on shares of Grab in a report on Thursday. Finally, Mizuho boosted their target price on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Grab currently has an average rating of “Moderate Buy” and a consensus target price of $5.54.

Grab Price Performance

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 firm has a market capitalization of $19.35 billion, a price-to-earnings ratio of -240.25, a P/E/G ratio of 2.21 and a beta of 0.90. The company’s 50 day moving average is $4.78 and its 200-day moving average is $4.26.

Grab (NASDAQ:GRAB) last announced its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. Equities research analysts anticipate that Grab Holdings Limited will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Grab

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Twin Tree Management LP acquired a new position in Grab during the fourth quarter valued at approximately $25,000. Campbell Capital Management Inc. acquired a new position in shares of Grab during the 4th quarter worth $30,000. Global Retirement Partners LLC bought a new stake in shares of Grab during the 4th quarter worth $30,000. TD Private Client Wealth LLC grew its stake in shares of Grab by 7,238.5% during the fourth quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company’s stock worth $38,000 after buying an additional 7,890 shares during the last quarter. Finally, Allianz SE bought a new position in shares of Grab in the 4th quarter valued at $44,000. 55.52% of the stock is currently 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.