Grab (NASDAQ:GRAB) Sees Strong Trading Volume – Should You Buy?

Grab Holdings Limited (NASDAQ:GRAB) shares saw unusually-high trading volume on Wednesday . Approximately 32,650,590 shares were traded during mid-day trading, an increase of 29% from the previous session’s volume of 25,256,729 shares.The stock last traded at $5.42 and had previously closed at $5.46.

Analysts Set New Price Targets

GRAB has been the topic of a number of recent research reports. Bank of America cut Grab from a “buy” rating to an “underperform” rating and set a $4.90 target price on the stock. in a report on Friday. Mizuho lifted their target price on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Benchmark reiterated a “buy” rating and set a $6.00 price target on shares of Grab in a report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their price target on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Finally, Daiwa Capital Markets began coverage on Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $5.42.

Grab Stock Performance

The company has a market cap of $21.58 billion, a P/E ratio of -283.46 and a beta of 0.81. The firm has a 50 day moving average price of $4.06 and a 200-day moving average price of $3.67. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70.

Grab (NASDAQ:GRAB) last announced its earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The firm had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. During the same quarter in the prior year, the company earned ($0.02) EPS. On average, research analysts predict that Grab Holdings Limited will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Grab

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in shares of Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after buying an additional 3,408 shares during the period. Traynor Capital Management Inc. bought a new position in shares of Grab in the 3rd quarter worth $41,000. Sage Rhino Capital LLC bought a new position in shares of Grab in the 2nd quarter worth $38,000. Glenmede Trust Co. NA bought a new position in shares of Grab in the 3rd quarter worth $53,000. Finally, Dorsey & Whitney Trust CO LLC lifted its holdings in Grab by 37.0% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock worth $50,000 after acquiring an additional 3,795 shares in the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

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.