Grab (NASDAQ:GRAB) Shares Gap Down – Time to Sell?

Grab Holdings Limited (NASDAQ:GRAB)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $5.11, but opened at $4.80. Grab shares last traded at $4.87, with a volume of 8,056,588 shares traded.

Wall Street Analysts Forecast Growth

GRAB has been the topic of a number of analyst reports. Evercore ISI raised their target price on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective on the stock. in a report on Thursday, November 21st. Barclays upped their target price on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Daiwa Capital Markets initiated coverage on shares of Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price target on the stock. Finally, HSBC upgraded shares of 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 report on Tuesday. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Grab presently has a consensus rating of “Moderate Buy” and an average price target of $5.54.

Grab Price Performance

The stock has a market capitalization of $19.12 billion, a PE ratio of -233.50, a P/E/G ratio of 1.91 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The stock’s 50-day moving average is $4.83 and its 200 day moving average is $4.15.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The firm had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. As a group, equities analysts expect that Grab Holdings Limited will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Grab

Several hedge funds and other institutional investors have recently bought and sold shares of GRAB. Empowered Funds LLC boosted its position in shares of Grab by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock worth $166,000 after buying an additional 3,147 shares in the last quarter. Blue Trust Inc. grew its holdings in Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after buying an additional 3,408 shares during the last quarter. FNY Investment Advisers LLC grew its holdings in Grab by 13.9% during the 4th quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock valued at $135,000 after buying an additional 3,500 shares during the last quarter. Asset Management One Co. Ltd. increased its position in Grab by 0.5% during the third quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock worth $2,951,000 after buying an additional 3,941 shares in the last quarter. Finally, First Trust Direct Indexing L.P. raised its holdings in shares of Grab by 34.5% in the third quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock worth $70,000 after acquiring an additional 4,725 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.