Grab (NASDAQ:GRAB) Stock Price Down 0.8%

Grab Holdings Limited (NASDAQ:GRAB)’s stock price dropped 0.8% during mid-day trading on Monday . The stock traded as low as $3.57 and last traded at $3.57. Approximately 1,271,016 shares changed hands during trading, a decline of 95% from the average daily volume of 23,567,105 shares. The stock had previously closed at $3.60.

Wall Street Analyst Weigh In

GRAB has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Grab in a report on Friday, May 17th. They set a “buy” rating and a $4.50 price objective for the company. Benchmark reiterated a “buy” rating and set a $6.00 price objective on shares of Grab in a report on Thursday, May 16th. HSBC restated a “buy” rating and set a $4.30 target price on shares of Grab in a report on Thursday, April 4th. Finally, Barclays raised their target price on Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $5.07.

Grab Stock Performance

The company has a 50-day moving average price of $3.55 and a 200-day moving average price of $3.33. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.26 and a quick ratio of 3.22.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The business had revenue of $653.00 million during the quarter, compared to analyst estimates of $662.48 million. Grab had a negative net margin of 11.86% and a negative return on equity of 4.62%. On average, sell-side analysts predict that Grab Holdings Limited will post -0.01 earnings per share for the current year.

Institutional Investors Weigh In On Grab

A number of institutional investors have recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC grew its position in Grab by 0.4% during the third quarter. Lake Street Advisors Group LLC now owns 696,416 shares of the company’s stock worth $2,465,000 after buying an additional 2,972 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Grab by 9.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 41,821 shares of the company’s stock worth $141,000 after buying an additional 3,510 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Grab by 9.5% during the third quarter. PNC Financial Services Group Inc. now owns 41,774 shares of the company’s stock worth $148,000 after buying an additional 3,632 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Grab by 0.6% during the third quarter. Public Sector Pension Investment Board now owns 668,080 shares of the company’s stock valued at $2,365,000 after purchasing an additional 4,200 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Grab by 1.7% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 301,543 shares of the company’s stock valued at $1,067,000 after purchasing an additional 5,003 shares in 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.