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

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 trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Mizuho boosted their price target on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday. China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 target price for the company. in a report on Thursday, November 21st. JPMorgan Chase & Co. downgraded shares of Grab from an “overweight” rating to a “neutral” rating in a research report on Wednesday. Finally, Barclays upped their price target on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $5.54.

Grab Stock Performance

The stock has a market capitalization of $18.91 billion, a price-to-earnings ratio of -234.75, a PEG ratio of 1.91 and a beta of 0.90. The stock’s 50 day moving average is $4.85 and its 200 day moving average is $4.15. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04.

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

Institutional Trading of Grab

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in Grab by 13.4% in the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after purchasing an additional 14,671,388 shares during the period. Baillie Gifford & Co. lifted its holdings in Grab by 10.0% in the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock valued at $221,942,000 after acquiring an additional 4,259,537 shares during the last quarter. Perpetual Ltd acquired a new stake in Grab in the 4th quarter valued at about $213,177,000. State Street Corp lifted its holdings in Grab by 2.3% in the 3rd quarter. State Street Corp now owns 43,570,388 shares of the company’s stock valued at $165,567,000 after acquiring an additional 967,233 shares during the last quarter. Finally, Coronation Fund Managers Ltd. lifted its stake in Grab by 11.4% during the third quarter. Coronation Fund Managers Ltd. now owns 33,735,725 shares of the company’s stock valued at $128,196,000 after buying an additional 3,442,581 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

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.