Shares of Grab Holdings Limited (NASDAQ:GRAB $Grab Holdings(GRAB)$ ) were down 3.4% during mid-day trading on Friday . The company traded as low as $2.82 and last traded at $2.83. Approximately 191,071 shares changed hands during trading, a decline of 99% from the average daily volume of 28,094,864 shares. The stock had previously closed at $2.93.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on GRAB shares. JPMorgan Chase & Co. raised shares of Grab from a “neutral” rating to an “overweight” rating and set a $3.00 price objective for the company in a research report on Monday, July 18th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft started coverage on shares of Grab in a report on Friday, June 17th. They issued a “buy” rating and a $3.20 target price for the company. Evercore ISI decreased their price target on shares of Grab from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, July 7th.
China Renaissance initiated coverage on shares of Grab in a research note on Monday, June 6th. They issued a “buy” rating and a $4.20 price target on the stock. Finally, KGI Securities initiated coverage on shares of Grab in a research report on Monday, June 6th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Grab currently has an average rating of “Moderate Buy” and a consensus price target of $5.57.
Grab Price Performance
The company has a current ratio of 8.07, a quick ratio of 8.03 and a debt-to-equity ratio of 0.27. The company’s fifty day moving average is $2.62 and its 200-day moving average is $3.77.
Grab (NASDAQ:GRAB–Get Rating) last released its quarterly earnings results on Thursday, May 19th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $228.00 million for the quarter, compared to analyst estimates of $134.87 million. As a group, equities analysts anticipate that Grab Holdings Limited will post -0.35 earnings per share for the current fiscal year.Hedge Funds Weigh In On Grab
Several hedge funds and other institutional investors have recently modified their holdings of GRAB. Private Advisor Group LLC purchased a new stake in shares of Grab in the 2nd quarter valued at approximately $31,000. Arena Capital Advisors LLC CA acquired a new position in shares of Grab in the first quarter valued at approximately $35,000. Atlantic Union Bankshares Corp acquired a new position in shares of Grab in the second quarter valued at approximately $39,000. Dimensional Fund Advisors LP acquired a new position in Grab during the 1st quarter worth approximately $40,000. Finally, Intersect Capital LLC acquired a new position in Grab during the 1st quarter worth approximately $41,000. 46.25% of the stock is owned by hedge funds and other institutional investors.
About Grab
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.
sourece: defenseworld
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