Grove Collaborative (NYSE:GROV) Earns “Outperform” Rating from Telsey Advisory Group

Grove Collaborative (NYSE:GROV)‘s stock had its “outperform” rating reissued by stock analysts at Telsey Advisory Group in a report released on Tuesday,Benzinga reports. They currently have a $2.00 price objective on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 23.08% from the company’s previous close.

Grove Collaborative Stock Performance

Grove Collaborative stock opened at $1.63 on Tuesday. The company’s 50-day moving average is $1.51 and its two-hundred day moving average is $1.42. The company has a market cap of $63.31 million, a PE ratio of -2.36 and a beta of 1.09. The company has a current ratio of 2.07, a quick ratio of 1.45 and a debt-to-equity ratio of 14.58. Grove Collaborative has a 1 year low of $1.19 and a 1 year high of $2.44.

Hedge Funds Weigh In On Grove Collaborative

A number of large investors have recently bought and sold shares of the company. General Atlantic L.P. raised its stake in shares of Grove Collaborative by 164.4% during the 4th quarter. General Atlantic L.P. now owns 2,474,859 shares of the company’s stock worth $3,440,000 after purchasing an additional 1,538,839 shares in the last quarter. Geode Capital Management LLC lifted its position in Grove Collaborative by 14.4% during the fourth quarter. Geode Capital Management LLC now owns 208,755 shares of the company’s stock worth $290,000 after acquiring an additional 26,231 shares during the last quarter. Northern Trust Corp grew its holdings in Grove Collaborative by 54.1% in the 4th quarter. Northern Trust Corp now owns 96,471 shares of the company’s stock valued at $134,000 after buying an additional 33,850 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Grove Collaborative by 35.5% in the 4th quarter. Renaissance Technologies LLC now owns 43,500 shares of the company’s stock valued at $60,000 after purchasing an additional 11,400 shares during the period. Finally, Millennium Management LLC grew its position in Grove Collaborative by 93.7% during the fourth quarter. Millennium Management LLC now owns 24,333 shares of the company’s stock worth $34,000 after buying an additional 11,768 shares in the last quarter. Institutional investors and hedge funds 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.