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

Telsey Advisory Group reaffirmed their outperform rating on shares of Grove Collaborative (NYSE:GROV) in a report issued on Wednesday morning,Benzinga reports. They currently have a $2.00 price target on the stock.

Grove Collaborative Stock Down 0.3 %

Shares of GROV stock opened at $1.67 on Wednesday. Grove Collaborative has a 12 month low of $1.19 and a 12 month high of $2.00. The firm has a market cap of $64.87 million, a PE ratio of -2.41 and a beta of 1.04. The stock has a 50 day moving average of $1.55 and a 200-day moving average of $1.43. The company has a quick ratio of 1.45, a current ratio of 2.07 and a debt-to-equity ratio of 14.58.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GROV. XTX Topco Ltd bought a new stake in shares of Grove Collaborative during the fourth quarter valued at approximately $33,000. Millennium Management LLC increased its position in shares of Grove Collaborative by 93.7% during the fourth quarter. Millennium Management LLC now owns 24,333 shares of the company’s stock valued at $34,000 after purchasing an additional 11,768 shares during the period. Renaissance Technologies LLC increased its position in shares of Grove Collaborative by 35.5% during the fourth 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. Northern Trust Corp increased its position in shares of Grove Collaborative by 54.1% during the fourth quarter. Northern Trust Corp now owns 96,471 shares of the company’s stock valued at $134,000 after purchasing an additional 33,850 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Grove Collaborative by 5.3% during the third 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. 91.64% of the stock is currently owned by institutional investors and hedge funds.

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.