Grab (NASDAQ:GRAB) Sets New 52-Week Low – Here’s Why

Grab Holdings Limited (NASDAQ:GRAB)’s stock price reached a new 52-week low on Monday. The company traded as low as $2.68 and last traded at $2.7250, with a volume of 9,785,763 shares. The stock had previously closed at $2.79.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GRAB shares. Bank of America restated a “buy” rating on shares of Grab in a research report on Friday, September 25th. KeyCorp set a $7.00 price target on Grab in a research report on Wednesday, September 16th. Barclays reduced their price objective on Grab from $5.00 to $4.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Benchmark reiterated a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. Finally, Weiss Ratings downgraded Grab from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $6.01.

Grab Price Performance

The business’s fifty day simple moving average is $3.15 and its two-hundred day simple moving average is $3.67. The company has a market cap of $11.15 billion, a PE ratio of 45.34 and a beta of 0.91.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $997.00 million during the quarter, compared to analyst estimates of $994.97 million. As a group, analysts predict that Grab Holdings Limited will post 0.14 EPS for the current year.

Insiders Place Their Bets

In other Grab news, insider Chin Ong sold 38,000 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $3.09, for a total value of $117,420.00. Following the sale, the insider directly owned 3,594,611 shares of the company’s stock, valued at approximately $11,107,347.99. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Hungate acquired 299,571 shares of the company’s stock in a transaction on Monday, September 21st. The stock was acquired at an average cost of $2.89 per share, for a total transaction of $865,760.19. Following the completion of the acquisition, the chief operating officer owned 6,411,550 shares of the company’s stock, valued at $18,529,379.50. This trade represents a 4.90% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 899,349 shares of company stock worth $3,104,355 in the last 90 days. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in Grab by 6.4% in the 2nd quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock valued at $588,783,000 after acquiring an additional 9,357,389 shares during the period. Coronation Fund Managers Ltd. increased its stake in shares of Grab by 74.5% during the first quarter. Coronation Fund Managers Ltd. now owns 32,601,355 shares of the company’s stock worth $119,321,000 after purchasing an additional 13,919,053 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Grab by 13.4% during the second quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company’s stock worth $91,572,000 after purchasing an additional 2,867,458 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Grab by 80.2% during the first quarter. Bank of America Corp DE now owns 23,993,894 shares of the company’s stock worth $87,818,000 after purchasing an additional 10,681,810 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Grab by 20.9% during the 2nd quarter. Hsbc Holdings PLC now owns 17,877,290 shares of the company’s stock worth $67,475,000 after purchasing an additional 3,090,656 shares during the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

Grab Company Profile

Grab Holdings Inc (NASDAQ:GRAB) is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. The company began as a ride-hailing service in Malaysia in 2012 and is headquartered in Singapore.

Grab’s platform provides mobility services, including ride-hailing, taxi bookings and other transportation options. It also offers food, grocery and package deliveries, connecting users with restaurants, retailers and delivery partners through its digital marketplace.

In addition, Grab provides digital financial services in selected markets, including payments, consumer and merchant lending, digital banking and insurance-related products.