Telsey Advisory Group Reaffirms Outperform Rating for Grove Collaborative (NYSE:GROV)

Telsey Advisory Group reissued their outperform rating on shares of Grove Collaborative (NYSE:GROV - Free Report) in a research note published on Tuesday morning,Benzinga reports. They currently have a $2.00 target price on the stock.

Grove Collaborative Stock Down 0.3 %

Shares of GROV traded down $0.01 during trading hours on Tuesday, reaching $1.62. The stock had a trading volume of 51,854 shares, compared to its average volume of 165,458. The firm has a 50-day simple moving average of $1.53 and a 200 day simple moving average of $1.42. Grove Collaborative has a 12 month low of $1.19 and a 12 month high of $2.16. The company has a current ratio of 2.07, a quick ratio of 1.45 and a debt-to-equity ratio of 14.58. The company has a market capitalization of $62.92 million, a price-to-earnings ratio of -2.34 and a beta of 1.04.

Institutional Investors Weigh In On Grove Collaborative

Several hedge funds and other institutional investors have recently made changes to their positions in GROV. Geode Capital Management LLC boosted its stake in Grove Collaborative by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 182,524 shares of the company's stock valued at $246,000 after purchasing an additional 9,114 shares during the last quarter. General Atlantic L.P. grew its holdings in Grove Collaborative by 164.4% during the fourth quarter. General Atlantic L.P. now owns 2,474,859 shares of the company's stock worth $3,440,000 after buying an additional 1,538,839 shares in the last quarter. Renaissance Technologies LLC raised its position in Grove Collaborative by 35.5% in the 4th quarter. Renaissance Technologies LLC now owns 43,500 shares of the company's stock valued at $60,000 after buying an additional 11,400 shares during the last quarter. XTX Topco Ltd bought a new position in Grove Collaborative during the 4th quarter valued at $33,000. Finally, Northern Trust Corp boosted its holdings in 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 acquiring an additional 33,850 shares during the last quarter. 91.64% of the stock is owned by institutional investors.

Remove Ads

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.