Grab (NASDAQ:GRAB) Sees Strong Trading Volume

Grab Holdings Limited (NASDAQ:GRAB) shares saw strong trading volume on Tuesday . 17,652,572 shares traded 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

Several research analysts recently weighed in on the company. Barclays dropped their price target on Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a research report on Monday, February 5th. JPMorgan Chase & Co. raised Grab from a “neutral” rating to an “overweight” rating and upped their price target for the company from $3.60 to $3.80 in a research report on Thursday, January 18th. Finally, HSBC reissued a “buy” rating and set a $4.30 price target on shares of Grab in a research report on Thursday, April 4th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $5.10.

Grab Stock Up 4.5 %

The business has a 50 day simple moving average of $3.24 and a 200 day simple moving average of $3.22. 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 stock has a market cap of $13.73 billion, a PE ratio of -35.20 and a beta of 0.91.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted ($0.10) EPS. The firm’s revenue was up 30.1% on a year-over-year basis. On average, equities research analysts forecast that Grab Holdings Limited will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Grab

Several large investors have recently made changes to their positions in the business. National Bank of Canada FI acquired a new position in Grab in the 3rd quarter valued at approximately $35,000. DnB Asset Management AS raised its holdings in Grab by 7.6% in the 3rd quarter. DnB Asset Management AS now owns 344,722 shares of the company’s stock valued at $1,220,000 after acquiring an additional 24,444 shares in the last quarter. Coronation Fund Managers Ltd. raised its holdings in Grab by 37.2% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 17,756,341 shares of the company’s stock valued at $62,857,000 after acquiring an additional 4,817,174 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Grab by 9.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 734,198 shares of the company’s stock worth $2,599,000 after buying an additional 62,705 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of Grab by 9.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 405,556 shares of the company’s stock worth $1,436,000 after buying an additional 33,822 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

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.