Grove Collaborative Holdings, Inc. (NYSE:GROV) Short Interest Up 7.1% in September

Grove Collaborative Holdings, Inc. (NYSE:GROV) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 1,200,000 shares, a growth of 7.1% from the September 15th total of 1,120,000 shares. Approximately 7.0% of the company’s stock are short sold. Based on an average daily volume of 90,100 shares, the short-interest ratio is currently 13.3 days.

Grove Collaborative Stock Performance

Grove Collaborative stock remained flat at $1.33 during mid-day trading on Thursday. 79,706 shares of the company’s stock traded hands, compared to its average volume of 80,527. Grove Collaborative has a 52-week low of $1.19 and a 52-week high of $2.49. The business has a fifty day moving average price of $1.33 and a 200 day moving average price of $1.50. The company has a debt-to-equity ratio of 107.00, a quick ratio of 2.92 and a current ratio of 3.88. The firm has a market capitalization of $51.82 million, a PE ratio of -1.41 and a beta of 0.98.

Grove Collaborative (NYSE:GROV) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter. The firm had revenue of $52.10 million for the quarter, compared to the consensus estimate of $52.80 million. Grove Collaborative had a negative return on equity of 372.20% and a negative net margin of 14.41%.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reduced their target price on shares of Grove Collaborative from $3.00 to $2.00 and set an “outperform” rating for the company in a research note on Friday, August 9th.

Institutional Investors Weigh In On Grove Collaborative

A hedge fund recently bought a new stake in Grove Collaborative stock. Renaissance Technologies LLC purchased a new position in shares of Grove Collaborative Holdings, Inc. (NYSE:GROV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 21,700 shares of the company’s stock, valued at approximately $38,000. Renaissance Technologies LLC owned about 0.06% of Grove Collaborative as of its most recent SEC filing. 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.