Grove Collaborative Holdings, Inc. (NYSE:GROV) Sees Large Increase in Short Interest

Grove Collaborative Holdings, Inc. (NYSE:GROV - Get Free Report) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,470,000 shares, a growth of 28.9% from the December 15th total of 1,140,000 shares. Based on an average daily volume of 148,600 shares, the days-to-cover ratio is presently 9.9 days. Currently, 7.6% of the company's shares are short sold.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reiterated an "outperform" rating and issued a $2.00 price target on shares of Grove Collaborative in a research note on Wednesday, November 13th.

Insiders Place Their Bets

In other Grove Collaborative news, CEO Jeffrey Michael Yurcisin bought 35,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $1.38 per share, with a total value of $48,300.00. Following the purchase, the chief executive officer now owns 197,839 shares in the company, valued at $273,017.82. This trade represents a 21.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 13.13% of the company's stock.

Institutional Investors Weigh In On Grove Collaborative

An institutional investor recently bought a new position in Grove Collaborative stock. Renaissance Technologies LLC purchased a new position in shares of Grove Collaborative Holdings, Inc. (NYSE:GROV - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 21,700 shares of the company's stock, valued at approximately $38,000. Renaissance Technologies LLC owned 0.06% of Grove Collaborative as of its most recent filing with the Securities and Exchange Commission (SEC). 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Grove Collaborative Stock Performance

Grove Collaborative stock traded down $0.04 during midday trading on Friday, reaching $1.32. 71,489 shares of the company's stock were exchanged, compared to its average volume of 175,281. The stock's 50-day simple moving average is $1.43 and its 200 day simple moving average is $1.40. The firm has a market cap of $51.54 million, a price-to-earnings ratio of -1.92 and a beta of 1.08. The company has a debt-to-equity ratio of 14.58, a quick ratio of 1.45 and a current ratio of 2.07. Grove Collaborative has a 52 week low of $1.19 and a 52 week high of $2.44.

Grove Collaborative Company Profile

Grove Collaborative Holdings, Inc operates as a plastic neutral consumer products retailer in the United States. It offers household, personal care, beauty, and other consumer products through retail channels, third parties, direct-to-consumer platform, and mobile applications, as well as online store.