Grab (NASDAQ:GRAB) Hits New 52-Week Low – Time to Sell?

Grab Holdings Limited (NASDAQ:GRAB)’s share price hit a new 52-week low on Thursday . The company traded as low as $3.20 and last traded at $3.2350, with a volume of 4266352 shares changing hands. The stock had previously closed at $3.27.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Mizuho lowered their target price on shares of Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Morgan Stanley set a $5.90 target price on shares of Grab in a report on Wednesday, May 6th. Weiss Ratings raised shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Finally, Benchmark reaffirmed a “buy” rating on shares of Grab in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.19.

Grab Stock Down 2.3%

The business’s fifty day simple moving average is $3.67 and its 200 day simple moving average is $4.24. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The stock has a market cap of $13.09 billion, a price-to-earnings ratio of 319.82, a price-to-earnings-growth ratio of 1.50 and a beta of 0.89.

Grab (NASDAQ:GRAB) last released its earnings results on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Grab had a return on equity of 5.79% and a net margin of 10.67%.The business had revenue of $955.00 million for the quarter, compared to analyst estimates of $921.71 million. Equities analysts forecast that Grab Holdings Limited will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Peter Henry Oey sold 50,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $3.92, for a total value of $196,000.00. Following the completion of the transaction, the chief financial officer owned 7,050,165 shares of the company’s stock, valued at $27,636,646.80. The trade was a 0.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $3.67, for a total transaction of $1,468,000.00. Following the completion of the transaction, the chief executive officer directly owned 25,193 shares of the company’s stock, valued at $92,458.31. This trade represents a 94.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,156,819 shares of company stock worth $4,245,017 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Grab

Several institutional investors and hedge funds have recently made changes to their positions in GRAB. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Grab in the 4th quarter valued at $25,000. Montag A & Associates Inc. bought a new stake in Grab in the 1st quarter valued at $27,000. Parallel Advisors LLC lifted its position in Grab by 305.5% in the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock valued at $30,000 after acquiring an additional 4,601 shares in the last quarter. Signaturefd LLC lifted its position in Grab by 64.6% in the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after acquiring an additional 2,543 shares in the last quarter. Finally, Advocate Investing Services LLC bought a new stake in Grab in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Company Profile

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.