Grove Collaborative (NYSE:GROV) Stock Price Down 1.8%

Grove Collaborative Holdings, Inc. (NYSE:GROV) traded down 1.8% during trading on Tuesday . The company traded as low as $1.61 and last traded at $1.63. 27,538 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 79,930 shares. The stock had previously closed at $1.66.

Wall Street Analyst Weigh In

Separately, Telsey Advisory Group reiterated an “outperform” rating and issued a $3.00 target price on shares of Grove Collaborative in a research report on Tuesday, May 7th.

Grove Collaborative Trading Up 6.1 %

The stock has a market capitalization of $66.82 million, a price-to-earnings ratio of -1.67 and a beta of 0.94. The company’s 50-day moving average is $1.60 and its 200-day moving average is $1.74. The company has a quick ratio of 2.92, a current ratio of 4.01 and a debt-to-equity ratio of 9.65.

Grove Collaborative (NYSE:GROV) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.02) earnings per share (EPS) for the quarter. Grove Collaborative had a negative return on equity of 228.87% and a negative net margin of 13.91%. The firm had revenue of $53.55 million for the quarter, compared to analyst estimates of $53.40 million.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Grove Collaborative stock. SVB Wealth LLC boosted its position in shares of Grove Collaborative Holdings, Inc. (NYSE:GROV) by 100.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,340 shares of the company’s stock after acquiring an additional 15,170 shares during the period. SVB Wealth LLC owned about 0.08% of Grove Collaborative worth $54,000 as of its most recent SEC filing. Institutional investors and hedge funds own 91.64% of the company’s stock.

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.