Grove Collaborative (NYSE:GROV) Stock Price Down 1.4% - Time to Sell?

Grove Collaborative Holdings, Inc. (NYSE:GROV - Get Free Report) shares dropped 1.4% on Wednesday . The stock traded as low as $1.35 and last traded at $1.39. Approximately 240,522 shares traded hands during trading, an increase of 170% from the average daily volume of 89,009 shares. The stock had previously closed at $1.41.

Analyst Upgrades and Downgrades

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

Grove Collaborative Price Performance

The firm has a 50-day moving average of $1.40 and a 200 day moving average of $1.42. The company has a market capitalization of $54.94 million, a PE ratio of -2.04 and a beta of 1.07. The company has a debt-to-equity ratio of 14.58, a current ratio of 2.07 and a quick ratio of 1.45.

Insider Activity

In other news, CEO Jeffrey Michael Yurcisin bought 35,000 shares of the stock in a transaction on Monday, November 18th. The shares were bought at an average price of $1.38 per share, with a total value of $48,300.00. Following the completion of the acquisition, the chief executive officer now owns 197,839 shares in the company, valued at $273,017.82. The trade was a 21.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.13% of the company's stock.

Institutional Investors Weigh In On Grove Collaborative

A hedge fund recently raised its position in Grove Collaborative stock. Geode Capital Management LLC boosted its holdings in shares of Grove Collaborative Holdings, Inc. (NYSE:GROV - Free Report) by 5.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 182,524 shares of the company's stock after buying an additional 9,114 shares during the quarter. Geode Capital Management LLC owned approximately 0.47% of Grove Collaborative worth $246,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.

About Grove Collaborative

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.