Grab (NASDAQ:GRAB) Shares Gap Down – Should You Sell?

Grab Holdings Limited (NASDAQ:GRAB)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $5.11, but opened at $4.80. Grab shares last traded at $4.87, with a volume of 8,056,588 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Benchmark restated a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Tuesday, November 12th. Evercore ISI increased their target price on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. HSBC raised Grab from a “hold” rating to a “buy” rating and lowered their price target for the company from $5.50 to $5.45 in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered Grab from an “overweight” rating to a “neutral” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Grab currently has a consensus rating of “Moderate Buy” and an average target price of $5.54.

Grab Trading Up 4.1 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The stock has a fifty day moving average of $4.83 and a 200 day moving average of $4.15. The company has a market capitalization of $19.12 billion, a PE ratio of -233.50, a PEG ratio of 1.91 and a beta of 0.90.

Grab (NASDAQ:GRAB) last issued its earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $716.00 million during the quarter, compared to analyst estimates of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same quarter in the prior year, the business earned ($0.02) earnings per share. As a group, sell-side analysts predict that Grab Holdings Limited will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Grab

Large investors have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new stake in shares of Grab during the fourth quarter valued at approximately $30,000. Blue Trust Inc. boosted its stake in Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after acquiring an additional 3,408 shares in the last quarter. Traynor Capital Management Inc. purchased a new position in Grab in the third quarter worth $41,000. SeaBridge Investment Advisors LLC acquired a new stake in shares of Grab in the 4th quarter worth $48,000. Finally, New York Life Investment Management LLC purchased a new position in Grab during the 4th quarter worth $48,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

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.