Grab (NASDAQ:GRAB) Reaches New 52-Week Low – What’s Next?

Shares of Grab Holdings Limited (NASDAQ:GRAB) reached a new 52-week low on Thursday . The company traded as low as $3.20 and last traded at $3.2350, with a volume of 4266352 shares trading hands. The stock had previously closed at $3.27.

Analyst Ratings Changes

A number of research analysts have weighed in on GRAB shares. Weiss Ratings upgraded shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Mizuho cut their price objective on shares of Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. JPMorgan Chase & Co. cut their price objective on shares of Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Morgan Stanley set a $5.90 price objective on shares of Grab in a research report on Wednesday, May 6th. Finally, Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $6.19.

Grab Trading Down 1.5%

The stock’s fifty day moving average price is $3.66 and its 200 day moving average price is $4.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. The stock has a market capitalization of $13.52 billion, a P/E ratio of 330.33, a PEG ratio of 1.52 and a beta of 0.89.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The company had revenue of $955.00 million during the quarter, compared to the consensus estimate of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. Research analysts forecast that Grab Holdings Limited will post 0.08 earnings per share for the current year.

Insider Activity at Grab

In other news, insider Chin Yin Ong sold 48,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $3.55, for a total value of $170,400.00. Following the transaction, the insider directly owned 3,781,306 shares in the company, valued at approximately $13,423,636.30. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Peter Henry Oey sold 50,000 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $3.92, for a total transaction of $196,000.00. Following the completion of the transaction, the chief financial officer owned 7,050,165 shares in the company, valued at approximately $27,636,646.80. The trade was a 0.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,156,819 shares of company stock valued at $4,245,017. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Grab

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Grab during the fourth quarter valued at about $161,484,000. PointState Capital LP grew its stake in shares of Grab by 411.1% during the 4th quarter. PointState Capital LP now owns 32,555,483 shares of the company’s stock worth $162,452,000 after purchasing an additional 26,186,329 shares during the period. Marshall Wace LLP grew its stake in shares of Grab by 49.2% during the 4th quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock worth $361,542,000 after purchasing an additional 23,891,108 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Grab by 173.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company’s stock worth $173,422,000 after purchasing an additional 22,038,961 shares during the period. Finally, Citigroup Inc. grew its stake in shares of Grab by 112.6% during the 3rd quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock worth $195,041,000 after purchasing an additional 17,160,661 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

About Grab

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.