Grab (NASDAQ:GRAB) Trading 6.2% Higher

Shares of Grab Holdings Limited (NASDAQ:GRAB) traded up 6.2% during trading on Thursday . The stock traded as high as $3.42 and last traded at $3.41. 25,236,810 shares were traded during trading, an increase of 7% from the average session volume of 23,483,029 shares. The stock had previously closed at $3.21.

Analyst Upgrades and Downgrades

GRAB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $3.60 to $3.80 in a report on Thursday, January 18th. Barclays reduced their target price on Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a report on Monday, February 5th. Finally, HSBC reissued a “buy” rating and set a $4.30 price target on shares of Grab in a research report on Thursday, April 4th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Grab has a consensus rating of “Buy” and an average target price of $5.10.

Grab Stock Down 0.6 %

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 firm’s 50-day moving average price is $3.24 and its 200-day moving average price is $3.23.

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

Hedge Funds Weigh In On Grab

Several hedge funds and other institutional investors have recently bought and sold shares of GRAB. Lake Street Advisors Group LLC raised its stake in shares of Grab by 0.4% during the third quarter. Lake Street Advisors Group LLC now owns 696,416 shares of the company’s stock valued at $2,465,000 after purchasing an additional 2,972 shares during the period. Creative Planning increased its stake in Grab by 14.2% during the 4th quarter. Creative Planning now owns 25,377 shares of the company’s stock worth $86,000 after buying an additional 3,165 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Grab by 1.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 190,012 shares of the company’s stock worth $652,000 after buying an additional 3,295 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in Grab by 9.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 41,821 shares of the company’s stock valued at $141,000 after buying an additional 3,510 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Grab by 9.5% during the third quarter. PNC Financial Services Group Inc. now owns 41,774 shares of the company’s stock valued at $148,000 after acquiring an additional 3,632 shares in the last quarter. 55.52% of the stock is 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.