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

Shares of Grab Holdings Limited (NASDAQ:GRAB) saw unusually-strong trading volume on Wednesday after Barclays raised their price target on the stock from $4.70 to $5.50. Barclays currently has an overweight rating on the stock. Approximately 15,538,405 shares changed hands during mid-day trading, a decline of 36% from the previous session’s volume of 24,228,771 shares.The stock last traded at $4.80 and had previously closed at $4.89.

A number of other brokerages also recently weighed in on GRAB. JPMorgan Chase & Co. raised their price objective on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research report on Tuesday. Daiwa Capital Markets initiated coverage on Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective for the company. Mizuho upped their price objective on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday. Evercore ISI upped their price objective on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Jefferies Financial Group decreased their target price on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $5.48.

Institutional Trading of Grab

A number of hedge funds and other institutional investors have recently modified their holdings of GRAB. Blue Trust Inc. lifted its position in shares of Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after purchasing an additional 3,408 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new stake in Grab during the 1st quarter worth $32,000. Traynor Capital Management Inc. purchased a new position in shares of Grab in the 3rd quarter valued at approximately $41,000. Sage Rhino Capital LLC acquired a new position in shares of Grab during the second quarter worth about $38,000. Finally, Glenmede Trust Co. NA purchased a new position in Grab in the third quarter worth $53,000. 55.52% of the stock is owned by institutional investors and hedge funds.

Grab Stock Performance

The company has a market capitalization of $18.56 billion, a price-to-earnings ratio of -236.50 and a beta of 0.81. The stock’s 50-day moving average price is $3.87 and its 200-day moving average price is $3.61. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The business had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $705.40 million. During the same period last year, the company posted ($0.02) EPS. As a group, equities research analysts expect that Grab Holdings Limited will post -0.04 earnings per share for the current year.

Grab Company Profile

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.