Grove Collaborative’s (GROV) Outperform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Grove Collaborative (NYSE:GROVFree Report) in a research report sent to investors on Tuesday, Benzinga reports. Telsey Advisory Group currently has a $3.00 price objective on the stock.

Grove Collaborative Stock Down 1.8 %

GROV traded down $0.03 during trading hours on Tuesday, hitting $1.68. 57,901 shares of the company’s stock were exchanged, compared to its average volume of 50,591. The company has a quick ratio of 2.72, a current ratio of 3.54 and a debt-to-equity ratio of 8.82. Grove Collaborative has a 1-year low of $1.37 and a 1-year high of $3.81. The stock’s 50-day moving average is $1.71 and its two-hundred day moving average is $1.81. The stock has a market cap of $64.13 million, a price-to-earnings ratio of -1.29 and a beta of 0.89.

Grove Collaborative (NYSE:GROVGet Free Report) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.23) EPS for the quarter. The company had revenue of $59.86 million for the quarter, compared to analyst estimates of $61.70 million. Grove Collaborative had a negative net margin of 16.67% and a negative return on equity of 233.28%.

Insider Transactions at Grove Collaborative

In other Grove Collaborative news, Director John B. Replogle acquired 25,900 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was bought at an average cost of $1.93 per share, with a total value of $49,987.00. Following the completion of the transaction, the director now directly owns 349,605 shares in the company, valued at approximately $674,737.65. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have bought 52,523 shares of company stock worth $103,417 and have sold 19,455 shares worth $32,263. 13.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Grove Collaborative stock. SVB Wealth LLC boosted its position in Grove Collaborative Holdings, Inc. (NYSE:GROVFree Report) by 100.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,340 shares of the company’s stock after purchasing an additional 15,170 shares during the quarter. SVB Wealth LLC owned about 0.08% of Grove Collaborative worth $54,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 91.64% of the company’s stock.

Grove Collaborative Company Profile

(Get Free Report)

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.

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