Grab (NASDAQ:GRAB) Sets New 52-Week Low – What’s Next?

Grab Holdings Limited (NASDAQ:GRAB) reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $2.68 and last traded at $2.7250, with a volume of 9,785,763 shares. The stock had previously closed at $2.79.

Wall Street Analysts Forecast Growth

GRAB has been the topic of a number of research reports. Bank of America reiterated a “buy” rating on shares of Grab in a report on Friday, September 25th. Weiss Ratings lowered Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Benchmark reaffirmed a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. KeyCorp set a $7.00 price target on Grab in a research note on Wednesday, September 16th. Finally, Zacks Research raised Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $6.01.

Grab Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 1.52. The firm has a 50 day moving average price of $3.18 and a two-hundred day moving average price of $3.48. The company has a market capitalization of $11.08 billion, a P/E ratio of 45.09, a price-to-earnings-growth ratio of 0.49 and a beta of 0.91.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Grab had a return on equity of 8.83% and a net margin of 15.97%. The business had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. On average, research analysts expect that Grab Holdings Limited will post 0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Grab news, COO Alexander Hungate acquired 299,571 shares of the business’s stock in a transaction dated Monday, September 21st. The shares were acquired at an average price of $2.89 per share, for a total transaction of $865,760.19. Following the acquisition, the chief operating officer directly owned 6,411,550 shares of the company’s stock, valued at approximately $18,529,379.50. This trade represents a 4.90% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Wolfgang Kandal sold 30,000 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $3.00, for a total transaction of $90,000.00. Following the completion of the sale, the insider directly owned 3,928,735 shares in the company, valued at $11,786,205. This represents a 0.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 899,349 shares of company stock worth $3,104,355 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Grab

Several large investors have recently modified their holdings of the stock. Corient Private Wealth LLC grew its holdings in Grab by 2.1% during the fourth quarter. Corient Private Wealth LLC now owns 129,340 shares of the company’s stock worth $644,000 after acquiring an additional 2,665 shares during the period. Resona Asset Management Co. Ltd. increased its position in shares of Grab by 0.4% in the first quarter. Resona Asset Management Co. Ltd. now owns 721,569 shares of the company’s stock valued at $2,628,000 after buying an additional 2,858 shares in the last quarter. KBC Group NV increased its position in shares of Grab by 0.4% in the first quarter. KBC Group NV now owns 1,096,393 shares of the company’s stock valued at $4,012,000 after buying an additional 4,170 shares in the last quarter. Keybank National Association OH raised its stake in shares of Grab by 34.7% during the 1st quarter. Keybank National Association OH now owns 16,677 shares of the company’s stock worth $61,000 after buying an additional 4,295 shares during the last quarter. Finally, HB Wealth Management LLC increased its holdings in Grab by 11.7% during the 1st quarter. HB Wealth Management LLC now owns 48,140 shares of the company’s stock valued at $176,000 after acquiring an additional 5,059 shares in the last quarter. 55.52% of the stock is owned by institutional investors.

About Grab

Grab Holdings Inc (NASDAQ:GRAB) is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. The company began as a ride-hailing service in Malaysia in 2012 and is headquartered in Singapore.

Grab’s platform provides mobility services, including ride-hailing, taxi bookings and other transportation options. It also offers food, grocery and package deliveries, connecting users with restaurants, retailers and delivery partners through its digital marketplace.

In addition, Grab provides digital financial services in selected markets, including payments, consumer and merchant lending, digital banking and insurance-related products.