Grove Collaborative (NYSE:GROV) Earns “Outperform” Rating from Telsey Advisory Group

Grove Collaborative (NYSE:GROV)‘s stock had its “outperform” rating reissued by research analysts at Telsey Advisory Group in a report issued on Wednesday,Benzinga reports. They currently have a $2.00 target price on the stock. Telsey Advisory Group’s price target suggests a potential upside of 19.05% from the stock’s current price.

Grove Collaborative Stock Up 3.7 %

Shares of GROV opened at $1.68 on Wednesday. The company has a debt-to-equity ratio of 14.58, a current ratio of 2.07 and a quick ratio of 1.45. The business’s 50 day simple moving average is $1.54 and its 200-day simple moving average is $1.43. The stock has a market capitalization of $65.45 million, a price-to-earnings ratio of -2.43 and a beta of 1.04. Grove Collaborative has a 1 year low of $1.19 and a 1 year high of $2.00.

Hedge Funds Weigh In On Grove Collaborative

Hedge funds have recently made changes to their positions in the company. XTX Topco Ltd purchased a new position in shares of Grove Collaborative during the 4th quarter valued at approximately $33,000. Millennium Management LLC boosted its stake in Grove Collaborative by 93.7% during the fourth quarter. Millennium Management LLC now owns 24,333 shares of the company’s stock worth $34,000 after buying an additional 11,768 shares during the period. Renaissance Technologies LLC boosted its position in shares of Grove Collaborative by 35.5% during the 4th quarter. Renaissance Technologies LLC now owns 43,500 shares of the company’s stock worth $60,000 after purchasing an additional 11,400 shares during the period. Northern Trust Corp boosted its position in shares of Grove Collaborative by 54.1% during the fourth quarter. Northern Trust Corp now owns 96,471 shares of the company’s stock worth $134,000 after buying an additional 33,850 shares during the period. Finally, Geode Capital Management LLC lifted 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 worth $246,000 after acquiring an additional 9,114 shares in the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

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.