Grove Collaborative (NYSE:GROV) Given New $2.00 Price Target at Telsey Advisory Group

Grove Collaborative (NYSE:GROV) had its price objective reduced by Telsey Advisory Group from $3.00 to $2.00 in a report released on Friday morning, MarketBeat reports. They currently have an outperform rating on the stock.

Grove Collaborative Stock Performance

NYSE GROV traded down $0.09 on Friday, hitting $1.34. 88,628 shares of the company’s stock traded hands, compared to its average volume of 75,446. The company has a current ratio of 4.01, a quick ratio of 2.92 and a debt-to-equity ratio of 9.65. Grove Collaborative has a 1-year low of $1.19 and a 1-year high of $3.81. The firm’s 50-day moving average price is $1.58 and its two-hundred day moving average price is $1.66. The firm has a market capitalization of $51.16 million, a PE ratio of -1.34 and a beta of 0.97.

Grove Collaborative (NYSE:GROV) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) EPS for the quarter. Grove Collaborative had a negative net margin of 13.91% and a negative return on equity of 228.87%. The business had revenue of $52.10 million for the quarter, compared to analyst estimates of $52.80 million.

Hedge Funds Weigh In On Grove Collaborative

A hedge fund recently raised its stake in Grove Collaborative stock. SVB Wealth LLC lifted its position 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 firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.