Grab (NASDAQ:GRAB) Sees Unusually-High Trading Volume

Grab Holdings Limited (NASDAQ:GRAB) saw unusually-high trading volume on Tuesday . Approximately 17,652,572 shares changed hands during trading, a decline of 25% from the previous session’s volume of 23,642,211 shares.The stock last traded at $3.50 and had previously closed at $3.35.

Analyst Ratings Changes

GRAB has been the topic of a number of analyst reports. HSBC reaffirmed a “buy” rating and set a $4.30 target price on shares of Grab in a research report on Thursday, April 4th. Barclays lowered their price objective on Grab from $4.50 to $4.30 and set an “overweight” rating for the company in a report on Monday, February 5th. Finally, JPMorgan Chase & Co. raised Grab from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $3.60 to $3.80 in a report on Thursday, January 18th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $5.10.

Grab Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 3.90 and a quick ratio of 3.87. The company has a fifty day moving average of $3.25 and a two-hundred day moving average of $3.23. The stock has a market capitalization of $13.65 billion, a P/E ratio of -34.80 and a beta of 0.91.

Grab (NASDAQ:GRAB) last issued its earnings results on Thursday, February 22nd. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Grab had a negative return on equity of 6.77% and a negative net margin of 18.43%. The company had revenue of $653.00 million during the quarter, compared to the consensus estimate of $633.82 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. Grab’s quarterly revenue was up 30.1% compared to the same quarter last year. On average, equities analysts anticipate that Grab Holdings Limited will post 0.01 EPS for the current year.

Hedge Funds Weigh In On Grab

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Deutsche Bank AG boosted its stake in Grab by 2.4% in the third quarter. Deutsche Bank AG now owns 2,964,633 shares of the company’s stock valued at $10,495,000 after acquiring an additional 69,792 shares during the period. FMR LLC boosted its position in shares of Grab by 2,898.6% during the third quarter. FMR LLC now owns 4,581,183 shares of the company’s stock worth $16,217,000 after buying an additional 4,428,407 shares during the period. Compagnie Lombard Odier SCmA boosted its position in shares of Grab by 33.8% during the third quarter. Compagnie Lombard Odier SCmA now owns 2,206,523 shares of the company’s stock worth $7,811,000 after buying an additional 557,288 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Grab by 0.6% during the third quarter. Public Sector Pension Investment Board now owns 668,080 shares of the company’s stock worth $2,365,000 after buying an additional 4,200 shares during the period. Finally, Kinetic Partners Management LP acquired a new position in shares of Grab during the third quarter worth approximately $23,176,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

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.