Grab (NASDAQ:GRAB) Sees Strong Trading Volume

Shares of Grab Holdings Limited (NASDAQ:GRAB) saw unusually-strong trading volume on Tuesday . Approximately 17,652,572 shares were traded 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.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GRAB shares. HSBC reissued a “buy” rating and set a $4.30 price objective on shares of Grab in a research note on Thursday, April 4th. Barclays decreased their target price on shares of 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 shares of Grab from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $3.60 to $3.80 in a report on Thursday, January 18th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $5.10.

Grab Price Performance

The firm’s fifty day moving average price is $3.24 and its two-hundred day moving average price is $3.22. The company has a quick ratio of 3.87, a current ratio of 3.90 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $13.73 billion, a PE ratio of -35.20 and a beta of 0.91.

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

Institutional Trading of Grab

Several large investors have recently added to or reduced their stakes in GRAB. National Bank of Canada FI bought a new stake in Grab during the third quarter valued at approximately $35,000. DnB Asset Management AS boosted its position in shares of Grab by 7.6% in the third quarter. DnB Asset Management AS now owns 344,722 shares of the company’s stock worth $1,220,000 after purchasing an additional 24,444 shares during the period. Coronation Fund Managers Ltd. boosted its position in shares of Grab by 37.2% during the third quarter. Coronation Fund Managers Ltd. now owns 17,756,341 shares of the company’s stock worth $62,857,000 after acquiring an additional 4,817,174 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Grab by 9.3% during the third quarter. Asset Management One Co. Ltd. now owns 734,198 shares of the company’s stock worth $2,599,000 after acquiring an additional 62,705 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of Grab by 9.1% during the third quarter. Handelsbanken Fonder AB now owns 405,556 shares of the company’s stock worth $1,436,000 after acquiring an additional 33,822 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors.

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.