Grove Collaborative (NYSE:GROV) Stock Price Down 1.4% – What’s Next?

Shares of Grove Collaborative Holdings, Inc. (NYSE:GROV) dropped 1.4% on Wednesday . The company traded as low as $1.35 and last traded at $1.39. Approximately 240,522 shares changed hands during trading, an increase of 170% from the average daily volume of 89,009 shares. The stock had previously closed at $1.41.

Wall Street Analyst Weigh In

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

Grove Collaborative Trading Down 1.4 %

The firm has a market cap of $54.16 million, a price-to-earnings ratio of -2.01 and a beta of 1.07. The firm’s 50-day moving average is $1.40 and its 200-day moving average is $1.42. The company has a current ratio of 2.07, a quick ratio of 1.45 and a debt-to-equity ratio of 14.58.

Insider Buying and Selling at Grove Collaborative

In related news, CEO Jeffrey Michael Yurcisin bought 35,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were bought 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 directly owns 197,839 shares in the company, valued at approximately $273,017.82. This represents a 21.49 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On Grove Collaborative

A hedge fund recently raised its stake in Grove Collaborative stock. Geode Capital Management LLC increased its stake in Grove Collaborative Holdings, Inc. (NYSE:GROV) by 5.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 182,524 shares of the company’s stock after buying an additional 9,114 shares during the quarter. Geode Capital Management LLC owned 0.47% of Grove Collaborative worth $246,000 at the end of the most recent quarter. 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.