Grab (NASDAQ:GRAB) Sees Unusually-High Trading Volume

Shares of Grab Holdings Limited (NASDAQ:GRAB) saw unusually-strong trading volume on Tuesday . Approximately 17,652,572 shares changed hands during trading, a decline of 25% from the previous session’s volume of 23,642,211 shares.The stock last traded at $3.50 and had previously closed at $3.35.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GRAB shares. JPMorgan Chase & Co. raised shares of Grab from a “neutral” rating to an “overweight” rating and increased their price target for the company from $3.60 to $3.80 in a research note on Thursday, January 18th. Barclays reduced their price objective on shares of Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a research note on Monday, February 5th. Finally, HSBC reaffirmed a “buy” rating and issued a $4.30 price objective on shares of Grab in a research note on Thursday, April 4th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $5.10.

Grab Trading Down 0.9 %

The company’s fifty day simple moving average is $3.25 and its two-hundred day simple moving average is $3.23. The company has a quick ratio of 3.87, a current ratio of 3.90 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $13.65 billion, a price-to-earnings ratio of -34.80 and a beta of 0.91.

Grab (NASDAQ:GRAB) last posted its earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. The company had revenue of $653.00 million for the quarter, compared to analyst estimates of $633.82 million. Grab had a negative net margin of 18.43% and a negative return on equity of 6.77%. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period last year, the business posted ($0.10) earnings per share. Research analysts forecast that Grab Holdings Limited will post 0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

Several hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Grab during the fourth quarter worth $146,995,000. Barclays PLC raised its holdings in shares of Grab by 21,204.4% during the third quarter. Barclays PLC now owns 37,301,928 shares of the company’s stock worth $132,048,000 after acquiring an additional 37,126,838 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of Grab by 11.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 24,894,289 shares of the company’s stock worth $83,894,000 after acquiring an additional 2,523,484 shares during the period. Coronation Fund Managers Ltd. raised its holdings in shares of Grab by 37.2% during the third quarter. Coronation Fund Managers Ltd. now owns 17,756,341 shares of the company’s stock worth $62,857,000 after acquiring an additional 4,817,174 shares during the period. Finally, Fullerton Fund Management Co Ltd. raised its holdings in shares of Grab by 20.9% during the fourth quarter. Fullerton Fund Management Co Ltd. now owns 17,315,851 shares of the company’s stock worth $58,354,000 after acquiring an additional 2,997,442 shares during the period. 55.52% of the stock is currently owned by institutional investors and hedge funds.

About Grab

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.