Grab (NASDAQ:GRAB) Stock Price Down 5.7% – Here’s What Happened

Grab Holdings Limited (NASDAQ:GRAB) shares were down 5.7% during mid-day trading on Tuesday . The stock traded as low as $4.71 and last traded at $4.70. Approximately 12,172,311 shares traded hands during trading, a decline of 60% from the average daily volume of 30,757,802 shares. The stock had previously closed at $4.98.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GRAB shares. JPMorgan Chase & Co. dropped their target price on Grab from $5.60 to $5.30 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. CLSA raised Grab to a “moderate buy” rating in a research report on Wednesday, April 9th. Barclays raised their target price on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Benchmark reiterated a “buy” rating and issued a $6.00 price target on shares of Grab in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Grab presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.71.

Grab Price Performance

The stock’s 50-day moving average is $4.63 and its 200 day moving average is $4.73. 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 has a market capitalization of $19.19 billion, a PE ratio of -238.25, a P/E/G ratio of 2.26 and a beta of 0.84.

Institutional Trading of Grab

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its position in Grab by 6.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 45,934 shares of the company’s stock valued at $208,000 after acquiring an additional 2,581 shares during the period. Ellevest Inc. boosted its holdings in shares of Grab by 3.3% in the fourth quarter. Ellevest Inc. now owns 82,793 shares of the company’s stock valued at $391,000 after acquiring an additional 2,636 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Grab by 6.2% during the first quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock worth $239,000 after acquiring an additional 3,090 shares during the period. Summit Securities Group LLC raised its holdings in Grab by 63.6% during the first quarter. Summit Securities Group LLC now owns 8,229 shares of the company’s stock worth $37,000 after purchasing an additional 3,199 shares in the last quarter. Finally, Leibman Financial Services Inc. lifted its position in Grab by 1.7% in the first quarter. Leibman Financial Services Inc. now owns 201,858 shares of the company’s stock valued at $914,000 after purchasing an additional 3,331 shares during the period. 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.