Grove Collaborative (NYSE:GROV) Stock Price Up 4.5% - Here's Why

Shares of Grove Collaborative Holdings, Inc. (NYSE:GROV - Get Free Report) rose 4.5% during trading on Monday . The company traded as high as $1.67 and last traded at $1.64. Approximately 59,263 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 219,499 shares. The stock had previously closed at $1.57.

Wall Street Analysts Forecast Growth

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

Grove Collaborative Price Performance

The firm has a market capitalization of $65.61 million, a price-to-earnings ratio of -2.44 and a beta of 1.09. The company's fifty day moving average price is $1.46 and its 200 day moving average price is $1.39. The company has a debt-to-equity ratio of 14.58, a quick ratio of 1.45 and a current ratio of 2.07.

Insiders Place Their Bets

In related news, CEO Jeffrey Michael Yurcisin acquired 35,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average cost of $1.38 per share, with a total value of $48,300.00. Following the completion of the transaction, the chief executive officer now owns 197,839 shares of the company's stock, valued at approximately $273,017.82. This trade represents a 21.49 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 13.13% of the stock is owned by insiders.

Institutional Trading of Grove Collaborative

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in shares of Grove Collaborative by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 182,524 shares of the company's stock worth $246,000 after buying an additional 9,114 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Grove Collaborative by 35.5% during the 4th quarter. Renaissance Technologies LLC now owns 43,500 shares of the company's stock worth $60,000 after acquiring an additional 11,400 shares during the period. XTX Topco Ltd acquired a new stake in shares of Grove Collaborative during the 4th quarter worth about $33,000. Northern Trust Corp increased its position in shares of Grove Collaborative by 54.1% during the 4th quarter. Northern Trust Corp now owns 96,471 shares of the company's stock worth $134,000 after purchasing an additional 33,850 shares in the last quarter. Finally, General Atlantic L.P. increased its position in shares of Grove Collaborative by 164.4% during the 4th quarter. General Atlantic L.P. now owns 2,474,859 shares of the company's stock worth $3,440,000 after purchasing an additional 1,538,839 shares in the last quarter. 91.64% of the stock is owned by institutional investors.

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.