Grove Collaborative (NYSE:GROV) Stock Price Up 1.5% – Here’s What Happened

Shares of Grove Collaborative Holdings, Inc. (NYSE:GROV) traded up 1.5% on Wednesday . The stock traded as high as $1.40 and last traded at $1.36. 28,268 shares changed hands during trading, a decline of 72% from the average session volume of 102,365 shares. The stock had previously closed at $1.34.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reaffirmed an “outperform” rating and set a $2.00 target price on shares of Grove Collaborative in a report on Wednesday, March 12th.

Grove Collaborative Trading Down 8.2 %

The company has a quick ratio of 1.45, a current ratio of 2.07 and a debt-to-equity ratio of 14.58. The firm has a market capitalization of $51.24 million, a price-to-earnings ratio of -1.85 and a beta of 1.04. The firm’s 50 day moving average is $1.57 and its 200 day moving average is $1.45.

Institutional Investors Weigh In On Grove Collaborative

Hedge funds have recently made changes to their positions in the company. XTX Topco Ltd acquired a new stake in Grove Collaborative during the 4th quarter valued at $33,000. Millennium Management LLC lifted its stake in Grove Collaborative by 93.7% in the 4th quarter. Millennium Management LLC now owns 24,333 shares of the company’s stock worth $34,000 after acquiring an additional 11,768 shares in the last quarter. Renaissance Technologies LLC boosted its position in Grove Collaborative by 35.5% during the 4th quarter. Renaissance Technologies LLC now owns 43,500 shares of the company’s stock worth $60,000 after acquiring an additional 11,400 shares during the period. Northern Trust Corp grew its stake in Grove Collaborative by 54.1% during the 4th quarter. Northern Trust Corp now owns 96,471 shares of the company’s stock valued at $134,000 after acquiring an additional 33,850 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 9,114 shares during the 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.