Telsey Advisory Group Reaffirms “Outperform” Rating for Grove Collaborative (NYSE:GROV)

Grove Collaborative (NYSE:GROV)‘s stock had its “outperform” rating restated by analysts at Telsey Advisory Group in a report issued on Wednesday,Benzinga reports. They currently have a $2.00 price objective on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 50.94% from the stock’s current price.

Grove Collaborative Trading Down 1.1 %

NYSE:GROV opened at $1.33 on Wednesday. Grove Collaborative has a one year low of $1.19 and a one year high of $2.49. The business’s 50-day simple moving average is $1.34 and its 200 day simple moving average is $1.46. 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 stock has a market cap of $51.62 million, a price-to-earnings ratio of -2.09 and a beta of 0.97.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Grove Collaborative stock. Renaissance Technologies LLC purchased a new stake in Grove Collaborative Holdings, Inc. (NYSE:GROV) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 21,700 shares of the company’s stock, valued at approximately $38,000. Renaissance Technologies LLC owned 0.06% of Grove Collaborative as of its most recent filing with the SEC. 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.