Grab (NASDAQ:GRAB) Stock Price Down 5.7% - Here's What Happened

Shares of Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) traded down 5.7% during trading on Tuesday . The stock traded as low as $4.71 and last traded at $4.70. 12,172,311 shares were traded during mid-day trading, a decline of 60% from the average session volume of 30,757,802 shares. The stock had previously closed at $4.98.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. CLSA upgraded shares of Grab to a "moderate buy" rating in a research report on Wednesday, April 9th. Barclays increased their price target on shares of Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Benchmark reiterated a "buy" rating and issued a $6.00 price target on shares of Grab in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Grab from $5.60 to $5.30 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Grab has an average rating of "Moderate Buy" and a consensus price target of $5.71.

Grab Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The stock has a market cap of $18.96 billion, a price-to-earnings ratio of -235.25, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84. The stock's 50-day moving average is $4.63 and its 200-day moving average is $4.73.

Hedge Funds Weigh In On Grab

A number of large investors have recently bought and sold shares of GRAB. Sumitomo Mitsui Trust Group Inc. raised its stake in Grab by 2.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,707,627 shares of the company's stock worth $22,220,000 after purchasing an additional 134,243 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Grab by 19.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 264,669 shares of the company's stock worth $1,249,000 after purchasing an additional 42,824 shares during the period. Empowered Funds LLC raised its stake in shares of Grab by 13.3% in the 4th quarter. Empowered Funds LLC now owns 49,608 shares of the company's stock valued at $234,000 after acquiring an additional 5,820 shares during the period. Van ECK Associates Corp purchased a new position in shares of Grab in the 4th quarter valued at $227,000. Finally, Blue Trust Inc. raised its stake in shares of Grab by 98.5% in the 4th quarter. Blue Trust Inc. now owns 19,389 shares of the company's stock valued at $92,000 after acquiring an additional 9,622 shares during the period. Hedge funds and other institutional investors own 55.52% of the company's stock.

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.