Grove Collaborative’s (GROV) Outperform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Grove Collaborative (NYSE:GROV) in a research report released on Tuesday morning, Benzinga reports. They currently have a $3.00 target price on the stock.

Grove Collaborative Stock Performance

NYSE GROV opened at $1.70 on Tuesday. Grove Collaborative has a 52-week low of $1.37 and a 52-week high of $3.81. The stock has a market cap of $64.70 million, a PE ratio of -1.30 and a beta of 0.89. The firm has a 50-day moving average of $1.73 and a 200-day moving average of $1.81. The company has a debt-to-equity ratio of 8.82, a quick ratio of 2.72 and a current ratio of 3.54.

Grove Collaborative (NYSE:GROV) last posted its earnings results on Wednesday, March 6th. The company reported ($0.23) EPS for the quarter. The firm had revenue of $59.86 million during the quarter, compared to analyst estimates of $61.70 million. Grove Collaborative had a negative net margin of 16.67% and a negative return on equity of 233.28%.

Insider Transactions at Grove Collaborative

In other news, Director John B. Replogle acquired 25,900 shares of Grove Collaborative stock in a transaction on Monday, March 11th. The shares were purchased at an average cost of $1.93 per share, for a total transaction of $49,987.00. Following the completion of the purchase, the director now directly owns 349,605 shares of the company’s stock, valued at approximately $674,737.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders have acquired 52,523 shares of company stock valued at $103,417 and have sold 19,455 shares valued at $32,263. Insiders own 13.13% of the company’s stock.

Institutional Investors Weigh In On Grove Collaborative

An institutional investor recently raised its position in Grove Collaborative stock. SVB Wealth LLC boosted its stake in Grove Collaborative Holdings, Inc. (NYSE:GROV) by 100.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,340 shares of the company’s stock after purchasing an additional 15,170 shares during the period. SVB Wealth LLC owned about 0.08% of Grove Collaborative worth $54,000 at the end of the most recent quarter. 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.