Grab (NASDAQ:GRAB) Shares Gap Down – Should You Sell?

Shares of Grab Holdings Limited (NASDAQ:GRAB) gapped down before the market opened on Tuesday . The stock had previously closed at $6.07, but opened at $5.57. Grab shares last traded at $5.7670, with a volume of 32,320,689 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $7.00 price target on shares of Grab in a research report on Tuesday. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a report on Wednesday, October 8th. HSBC restated a “hold” rating and set a $6.20 target price on shares of Grab in a report on Wednesday, September 17th. Hsbc Global Res lowered shares of Grab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Finally, Benchmark lifted their target price on shares of Grab from $6.00 to $7.00 and gave the company a “buy” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.28.

Grab Trading Down 6.9%

The business’s 50-day moving average price is $5.80 and its 200 day moving average price is $5.23. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.88 and a quick ratio of 1.87. The firm has a market capitalization of $22.75 billion, a price-to-earnings ratio of 140.41 and a beta of 0.88.

Grab (NASDAQ:GRAB) last posted its earnings results on Monday, November 10th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Grab had a net margin of 3.65% and a return on equity of 1.75%. On average, equities analysts forecast that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Institutional Trading of Grab

Several institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its position in shares of Grab by 11.8% in the 2nd quarter. Invesco Ltd. now owns 63,881,785 shares of the company’s stock worth $321,325,000 after purchasing an additional 6,767,182 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Grab by 20.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 60,455,589 shares of the company’s stock worth $304,092,000 after purchasing an additional 10,428,014 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Grab by 7.3% in the 1st quarter. Baillie Gifford & Co. now owns 50,443,998 shares of the company’s stock worth $228,511,000 after purchasing an additional 3,422,289 shares during the last quarter. State Street Corp increased its position in shares of Grab by 1.8% in the 2nd quarter. State Street Corp now owns 43,322,397 shares of the company’s stock worth $217,912,000 after purchasing an additional 759,696 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its position in shares of Grab by 13.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 39,845,418 shares of the company’s stock worth $200,422,000 after purchasing an additional 4,710,420 shares during the last quarter. 55.52% of the stock is 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.