Grab (NASDAQ:GRAB) Shares Gap Up – Here’s What Happened

Grab Holdings Limited (NASDAQ:GRAB) shares gapped up before the market opened on Tuesday . The stock had previously closed at $4.90, but opened at $5.30. Grab shares last traded at $5.34, with a volume of 43,472,530 shares trading hands.

Wall Street Analyst Weigh In

GRAB has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating and issued a $6.00 price target on shares of Grab in a research report on Thursday. Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lowered Grab from an “overweight” rating to a “neutral” rating in a research note on Wednesday, February 5th. HSBC raised Grab from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. Finally, China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective on the stock. in a research note on Thursday, November 21st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.63.

Grab Stock Down 10.5 %

The firm has a fifty day simple moving average of $4.78 and a 200-day simple moving average of $4.26. The company has a market capitalization of $19.25 billion, a P/E ratio of -239.00, a P/E/G ratio of 2.21 and a beta of 0.90. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. On average, equities research analysts expect that Grab Holdings Limited will post -0.02 EPS for the current fiscal year.

Institutional Trading of Grab

A number of hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. lifted its holdings in Grab by 10.0% during the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock worth $221,942,000 after purchasing an additional 4,259,537 shares during the last quarter. Tidal Investments LLC lifted its holdings in Grab by 4,311.8% during the 3rd quarter. Tidal Investments LLC now owns 445,103 shares of the company’s stock worth $1,691,000 after purchasing an additional 435,014 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Grab during the 3rd quarter worth approximately $22,434,000. Leibman Financial Services Inc. acquired a new stake in Grab during the 4th quarter worth approximately $937,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Grab by 2.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,707,627 shares of the company’s stock worth $22,220,000 after purchasing an additional 134,243 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.