Shares of Grab Holdings Limited (NASDAQ:GRAB – Get Rating) gapped up prior to trading on Wednesday . The stock had previously closed at $3.13, but opened at $3.34. Grab shares last traded at $3.23, with a volume of 1,026,421 shares traded.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on GRAB. Barclays initiated coverage on shares of Grab in a research report on Monday, October 10th. They issued an “equal weight” rating and a $3.00 price objective for the company. Citigroup decreased their price target on shares of Grab from $5.40 to $5.00 and set a “buy” rating for the company in a report on Tuesday, November 8th. Finally, JPMorgan Chase & Co. lowered shares of Grab from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $3.00 to $3.80 in a research note on Monday, August 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.38.
Grab Stock Up 2.2 %
The business’s fifty day moving average price is $2.75 and its 200-day moving average price is $2.84. The company has a current ratio of 7.41, a quick ratio of 7.37 and a debt-to-equity ratio of 0.28.
Institutional Trading of Grab
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sage Rhino Capital LLC purchased a new position in Grab in the 3rd quarter worth approximately $26,000. SVB Wealth LLC purchased a new stake in Grab during the 3rd quarter valued at $27,000. Kore Private Wealth LLC purchased a new stake in Grab during the 2nd quarter valued at $29,000. Eaton Vance Management purchased a new stake in Grab during the 3rd quarter valued at $30,000. Finally, Private Advisor Group LLC bought a new position in Grab in the 2nd quarter worth $31,000. Institutional investors own 46.17% of the company’s stock.
Grab Holdings Limited provides superapps that allows access to mobility, delivery, financial services, and enterprise offerings through its mobile application in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company is headquartered in Singapore.
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