Shares of Grab Holdings Limited (NASDAQ:GRAB – Get Rating) fell 6.9% during mid-day trading on Monday after HSBC lowered their price target on the stock from $7.50 to $4.75. HSBC currently has a buy rating on the stock. Grab traded as low as $2.98 and last traded at $2.99. 95,136 shares traded hands during trading, a decline of 100% from the average session volume of 23,790,545 shares. The stock had previously closed at $3.21.
GRAB has been the topic of a number of other research reports. JPMorgan Chase & Co. cut shares of Grab from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $12.50 to $5.70 in a research note on Thursday, February 24th. Citigroup lifted their target price on shares of Grab from $5.80 to $6.00 and gave the company a “buy” rating in a research note on Friday. Bank of America began coverage on shares of Grab in a research note on Tuesday, March 15th. They set a “neutral” rating and a $3.60 target price on the stock. CLSA started coverage on shares of Grab in a research note on Monday, February 21st. They set a “sell” rating and a $4.76 target price on the stock. Finally, DBS Vickers cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.60 price target on the stock. in a research note on Thursday, February 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.84.
A number of large investors have recently modified their holdings of GRAB. SB Investment Advisers UK Ltd. bought a new position in Grab in the 4th quarter worth about $4,985,119,000. Mufg Bank LTD. bought a new position in Grab in the 4th quarter worth about $1,373,168,000. Capital Research Global Investors grew its stake in Grab by 50.9% in the 1st quarter. Capital Research Global Investors now owns 108,322,250 shares of the company’s stock worth $379,128,000 after acquiring an additional 36,542,740 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Grab in the 1st quarter worth approximately $161,045,000. Finally, Invesco Ltd. purchased a new stake in shares of Grab in the 4th quarter worth approximately $317,176,000. Institutional investors own 46.25% of the company’s stock.
The company has a fifty day simple moving average of $3.24. The company has a current ratio of 8.46, a quick ratio of 8.45 and a debt-to-equity ratio of 0.25.
Grab Company Profile (NASDAQ:GRAB)
Grab Holdings Limited operates a transportation and fintech platform in Southeast Asia. It offers a range of services, including mobility, food, package and grocery delivery services, mobile payments, and financial services. The company was founded in 2012 and is based in Singapore.
