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

Grove Collaborative (NYSE:GROV)‘s stock had its “outperform” rating reaffirmed by investment analysts at Telsey Advisory Group in a report issued on Tuesday,Benzinga reports. They presently have a $2.00 price objective on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 22.32% from the stock’s previous close.

Grove Collaborative Price Performance

NYSE:GROV opened at $1.64 on Tuesday. The firm has a market cap of $63.70 million, a price-to-earnings ratio of -2.37 and a beta of 1.09. The firm’s fifty day moving average is $1.52 and its two-hundred day moving average is $1.42. The company has a debt-to-equity ratio of 14.58, a quick ratio of 1.45 and a current ratio of 2.07. Grove Collaborative has a one year low of $1.19 and a one year high of $2.44.

Institutional Trading of Grove Collaborative

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Grove Collaborative by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 182,524 shares of the company’s stock valued at $246,000 after acquiring an additional 9,114 shares during the last quarter. General Atlantic L.P. lifted its position in shares of Grove Collaborative by 164.4% during the 4th quarter. General Atlantic L.P. now owns 2,474,859 shares of the company’s stock worth $3,440,000 after buying an additional 1,538,839 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Grove Collaborative by 35.5% in the fourth quarter. Renaissance Technologies LLC now owns 43,500 shares of the company’s stock valued at $60,000 after acquiring an additional 11,400 shares during the period. XTX Topco Ltd purchased a new position in shares of Grove Collaborative in the 4th quarter valued at approximately $33,000. Finally, Northern Trust Corp increased its stake 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 acquiring an additional 33,850 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

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.