Grab Holdings Limited (NASDAQ: GRAB) Loses -16.49% From High. Why That Could Change?

Currently, there are 3.81B common shares owned by the public and among those 2.27B shares have been available to trade.

The company’s stock has a 5-day price change of 0.00% and -8.73% over the past three months. GRAB shares are trading -3.86% year to date (YTD), with the 12-month market performance down to -9.24% lower. It has a 12-month low price of $2.90 and touched a high of $3.88 over the same period. GRAB has an average intraday trading volume of 19.60 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.20%, -7.25%, and -2.49% respectively.

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Institutional ownership of Grab Holdings Limited (NASDAQ: GRAB) shares accounts for 41.72% of the company’s 3.81B shares outstanding.

It has a market capitalization of $12.81B and a beta (3y monthly) value of 0.80. The earnings-per-share (ttm) stands at -$0.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.72% over the week and 2.64% over the month.

Earnings per share for the fiscal year are expected to increase by 72.19%, and 255.15% over the next financial year.

Looking at the support for the GRAB, a number of firms have released research notes about the stock. Mizuho stated their Outperform rating for the stock in a research note on June 27, 2024, with the firm’s price target at $5. Deutsche Bank coverage for the Grab Holdings Limited (GRAB) stock in a research note released on May 17, 2024 offered a Buy rating with a price target of $4.50. JP Morgan was of a view on January 18, 2024 that the stock is Overweight, while Barclays gave the stock Overweight rating on August 24, 2023, issuing a price target of $4.50. JP Morgan on their part issued Neutral rating on June 22, 2023.

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