Grab (NASDAQ:GRAB) Stock Price Up 8.6%

Grab Holdings Limited (NASDAQ:GRABGet Rating) shares were up 8.6% during trading on Tuesday . The company traded as high as $2.54 and last traded at $2.53. Approximately 223,232 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 32,981,264 shares. The stock had previously closed at $2.33.

A number of analysts recently weighed in on GRAB shares. Citigroup increased their price objective on Grab from $5.80 to $6.00 and gave the company a “buy” rating in a report on Friday, May 20th. HSBC decreased their price objective on Grab from $7.50 to $4.75 and set a “buy” rating for the company in a report on Monday, May 23rd. JPMorgan Chase & Co. downgraded Grab from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $12.50 to $5.70 in a report on Thursday, February 24th. Sanford C. Bernstein upgraded Grab from a “market perform” rating to an “outperform” rating and set a $3.04 price objective for the company in a report on Tuesday, May 31st. Finally, KGI Securities started coverage on Grab in a report on Monday, June 6th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $6.12.

The stock has a fifty day simple moving average of $2.79 and a two-hundred day simple moving average of $4.53. The company has a current ratio of 8.07, a quick ratio of 8.03 and a debt-to-equity ratio of 0.27.

Grab (NASDAQ:GRABGet Rating) last released its quarterly earnings data on Thursday, May 19th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). The company had revenue of $228.00 million for the quarter, compared to the consensus estimate of $134.87 million. Sell-side analysts predict that Grab Holdings Limited will post -0.39 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. SB Investment Advisers UK Ltd. bought a new position in shares of Grab during the 4th quarter worth about $4,985,119,000. Mufg Bank LTD. bought a new position in shares of Grab during the 4th quarter worth about $1,373,168,000. Capital Research Global Investors boosted its position in shares of Grab by 50.9% during the 1st quarter. Capital Research Global Investors now owns 108,322,250 shares of the company’s stock worth $379,128,000 after purchasing an additional 36,542,740 shares in the last quarter. BlackRock Inc. bought a new position in shares of Grab during the 1st quarter worth about $161,045,000. Finally, Invesco Ltd. bought a new position in Grab in the 4th quarter valued at about $317,176,000. 46.25% of the stock is currently owned by institutional investors.

Grab Company Profile (NASDAQ:GRAB)

Grab Holdings Limited operates a transportation and fintech platform in Southeast Asia. It offers a range of services, including mobility, food, package and grocery delivery services, mobile payments, and financial services. The company was founded in 2012 and is based in Singapore.

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