Grove Collaborative Holdings, Inc. (NYSE:GROV) Sees Significant Increase in Short Interest

Grove Collaborative Holdings, Inc. (NYSE:GROV) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,470,000 shares, a growth of 28.9% from the December 15th total of 1,140,000 shares. Based on an average daily trading volume, of 148,600 shares, the days-to-cover ratio is currently 9.9 days. Currently, 7.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reiterated an “outperform” rating and set a $2.00 price objective on shares of Grove Collaborative in a research note on Wednesday, November 13th.

Grove Collaborative Stock Down 2.7 %

Shares of NYSE GROV traded down $0.04 during trading hours on Friday, hitting $1.32. The company had a trading volume of 71,489 shares, compared to its average volume of 175,281. The stock has a market capitalization of $51.55 million, a P/E ratio of -1.92 and a beta of 1.08. Grove Collaborative has a 1-year low of $1.19 and a 1-year high of $2.44. The firm’s 50 day moving average is $1.43 and its 200-day moving average is $1.41. The company has a quick ratio of 1.45, a current ratio of 2.07 and a debt-to-equity ratio of 14.58.

Insider Transactions at Grove Collaborative

In related news, CEO Jeffrey Michael Yurcisin bought 35,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average price of $1.38 per share, with a total value of $48,300.00. Following the completion of the transaction, the chief executive officer now owns 197,839 shares of the company’s stock, valued at $273,017.82. The trade was a 21.49 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Grove Collaborative

An institutional investor recently raised its position in Grove Collaborative stock. Geode Capital Management LLC boosted its stake in Grove Collaborative Holdings, Inc. (NYSE:GROV) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 182,524 shares of the company’s stock after purchasing an additional 9,114 shares during the quarter. Geode Capital Management LLC owned about 0.47% of Grove Collaborative worth $246,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.