Grove Collaborative (NYSE:GROV) Shares Down 1.4% – What’s Next?

Grove Collaborative Holdings, Inc. (NYSE:GROV)’s stock price dropped 1.4% on Wednesday . The company traded as low as $1.06 and last traded at $1.0750. 43,311 shares traded hands during trading, an increase of 4% from the average session volume of 41,740 shares. The stock had previously closed at $1.09.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grove Collaborative in a research note on Monday, April 27th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.00.

Grove Collaborative Stock Down 1.4%

The company has a market capitalization of $45.17 million, a PE ratio of -4.13 and a beta of 1.04. The stock’s fifty day moving average price is $1.21 and its two-hundred day moving average price is $1.28.

Grove Collaborative (NYSE:GROV) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. The business had revenue of $36.22 million for the quarter, compared to analysts’ expectations of $33.10 million.

Hedge Funds Weigh In On Grove Collaborative

A hedge fund 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 third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 & Exchange Commission. 91.64% of the stock is currently owned by institutional investors and hedge funds.

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.