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

Grove Collaborative (NYSE:GROV)‘s stock had its “outperform” rating reaffirmed by analysts at Telsey Advisory Group in a note issued to investors on Wednesday,Benzinga reports. They presently have a $2.00 price objective on the stock. Telsey Advisory Group’s target price points to a potential upside of 21.21% from the company’s current price.

Grove Collaborative Price Performance

Shares of NYSE GROV opened at $1.65 on Wednesday. The firm has a market cap of $64.29 million, a PE ratio of -2.39 and a beta of 1.04. The firm has a fifty day moving average of $1.55 and a 200 day moving average of $1.43. 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 $2.00.

Institutional Investors Weigh In On Grove Collaborative

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased 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 worth $246,000 after acquiring an additional 9,114 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Grove Collaborative by 35.5% during the fourth quarter. Renaissance Technologies LLC now owns 43,500 shares of the company’s stock worth $60,000 after buying an additional 11,400 shares in the last quarter. Millennium Management LLC grew its holdings in shares of 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 in the last quarter. XTX Topco Ltd purchased a new stake in shares of Grove Collaborative during the fourth quarter worth $33,000. Finally, Northern Trust Corp grew its holdings 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 in the last quarter. Hedge funds and other institutional investors 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.