Grove Collaborative (NYSE:GROV) Stock Price Down 2% – Should You Sell?

Grove Collaborative Holdings, Inc. (NYSE:GROV) shares traded down 2% on Monday . The company traded as low as $0.92 and last traded at $0.9786. 17,863 shares were traded during trading, a decline of 53% from the average session volume of 37,990 shares. The stock had previously closed at $0.9989.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Grove Collaborative from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.00.

Grove Collaborative Stock Down 2.0%

The company has a market capitalization of $41.79 million, a P/E ratio of -5.15 and a beta of 1.04. The company has a 50-day moving average of $1.10 and a two-hundred day moving average of $1.22.

Grove Collaborative (NYSE:GROV) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. The firm had revenue of $36.57 million during the quarter, compared to the consensus estimate of $36.70 million.

Institutional Trading of Grove Collaborative

An institutional investor recently raised its position in Grove Collaborative stock. Susquehanna International Group LLP increased its holdings in Grove Collaborative Holdings, Inc. (NYSE:GROV) by 371.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,637 shares of the company’s stock after acquiring an additional 53,283 shares during the quarter. Susquehanna International Group LLP owned about 0.16% of Grove Collaborative worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Grove Collaborative Company Profile

Grove Collaborative is a direct-to-consumer digital marketplace offering a broad assortment of sustainable home and personal care products. Operating as a public benefit corporation, the company provides an online platform designed to simplify the shopping experience for eco-friendly essentials, including cleaning supplies, personal care items, baby and family products, wellness goods and pet care.

The company’s business model centers on a subscription-based delivery service that enables members to schedule regular shipments of both third-party and private-label products.