$Grab Holdings(GRAB)$ shares gapped up before the market opened on Monday . The stock had previously closed at $2.49, but opened at $2.61. Grab shares last traded at $2.79, with a volume of 468,559 shares.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Citigroup upped their price objective on Grab from $5.80 to $6.00 and gave the company a “buy” rating in a research note on Friday, May 20th. KGI Securities started coverage on Grab in a research note on Monday, June 6th. They set a “neutral” rating for the company. JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and set a $3.00 target price on the stock in a research note on Monday. They noted that the move was a valuation call. HSBC dropped their target price on shares of Grab from $7.50 to $4.75 and set a “buy” rating for the company in a research report on Monday, May 23rd. Finally, Sanford C. Bernstein upgraded shares of Grab from a “market perform” rating to an “outperform” rating and set a $3.04 price target on the stock in a research report on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $5.57.
The company has a debt-to-equity ratio of 0.27, a quick ratio of 8.03 and a current ratio of 8.07. The company’s 50 day moving average price is $2.60 and its 200 day moving average price is $3.83.
Grab (NASDAQ:GRAB–Get Rating) last announced its quarterly earnings data on Thursday, May 19th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). The firm had revenue of $228.00 million during the quarter, compared to the consensus estimate of $134.87 million. As a group, equities analysts anticipate that Grab Holdings Limited will post -0.37 EPS for the current fiscal year.Institutional Trading of Grab
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its position in shares of Grab by 161.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 151,732 shares of the company’s stock worth $531,000 after buying an additional 93,649 shares during the period. Ieq Capital LLC bought a new position in Grab in the fourth quarter valued at approximately $959,000. Advisor Group Holdings Inc. acquired a new stake in Grab during the 4th quarter worth $187,000. Marathon Trading Investment Management LLC bought a new stake in shares of Grab during the 4th quarter valued at $71,000. Finally, Parkwood LLC acquired a new position in shares of Grab in the 4th quarter valued at $7,151,000. 46.25% of the stock is currently owned by institutional investors and hedge funds.
source: defenseworld
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