Grove Collaborative (NYSE:GROV) Shares Up 3.1%

Grove Collaborative Holdings, Inc. (NYSE:GROV)’s share price shot up 3.1% during trading on Wednesday . The company traded as high as $1.38 and last traded at $1.34. 35,619 shares traded hands during trading, a decline of 51% from the average session volume of 72,116 shares. The stock had previously closed at $1.30.

Analyst Ratings Changes

Separately, Telsey Advisory Group reduced their price objective on Grove Collaborative from $3.00 to $2.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th.

Grove Collaborative Stock Performance

The business’s fifty day moving average price is $1.47 and its two-hundred day moving average price is $1.61. 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 capitalization of $52.21 million, a P/E ratio of -1.34 and a beta of 0.97.

Grove Collaborative (NYSE:GROV) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter. Grove Collaborative had a negative net margin of 14.41% and a negative return on equity of 372.20%. The company had revenue of $52.10 million during the quarter, compared to the consensus estimate of $52.80 million.

Hedge Funds Weigh In On Grove Collaborative

An institutional investor recently bought a new position in Grove Collaborative stock. Renaissance Technologies LLC purchased a new position in Grove Collaborative Holdings, Inc. (NYSE:GROV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 21,700 shares of the company’s stock, valued at approximately $38,000. Renaissance Technologies LLC owned 0.06% of Grove Collaborative at the end of the most recent reporting period. 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.