Van ECK Associates Corp Makes New Investment in Grab Holdings Limited (NASDAQ:GRAB)

Van ECK Associates Corp bought a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 48,009 shares of the company’s stock, valued at approximately $227,000.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. lifted its position in shares of Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after buying an additional 3,408 shares in the last quarter. SeaBridge Investment Advisors LLC bought a new position in shares of Grab during the 4th quarter worth approximately $48,000. Traynor Capital Management Inc. bought a new position in shares of Grab during the 3rd quarter worth approximately $41,000. Glenmede Trust Co. NA bought a new position in shares of Grab during the 3rd quarter worth approximately $53,000. Finally, Baldwin Wealth Partners LLC MA bought a new position in shares of Grab during the 4th quarter worth approximately $67,000. Institutional investors own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Benchmark reissued a “buy” rating and set a $6.00 target price on shares of Grab in a research report on Thursday. Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. Barclays raised their price target on shares of Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday. Evercore ISI raised their price target on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Citigroup restated a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.62.

Grab Stock Performance

NASDAQ GRAB opened at $4.90 on Monday. Grab Holdings Limited has a 52-week low of $2.98 and a 52-week high of $5.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The company has a market capitalization of $19.73 billion, a P/E ratio of -245.00, a P/E/G ratio of 2.26 and a beta of 0.90. The company has a fifty day moving average of $4.76 and a 200-day moving average of $4.29.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. As a group, equities research analysts predict that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

About Grab

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.