Grove Collaborative (NYSE:GROV) Trading Down 2.6% – What’s Next?

Grove Collaborative Holdings, Inc. (NYSE:GROV)’s stock price fell 2.6% during mid-day trading on Monday . The stock traded as low as $1.1050 and last traded at $1.14. 84,490 shares traded hands during trading, an increase of 69% from the average session volume of 49,899 shares. The stock had previously closed at $1.17.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2.00.

Grove Collaborative Price Performance

The company has a market cap of $47.90 million, a P/E ratio of -4.38 and a beta of 1.06. The company has a 50 day moving average of $1.25 and a 200-day moving average of $1.30.

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

Institutional Investors Weigh In On Grove Collaborative

A hedge fund recently raised its stake in Grove Collaborative stock. Susquehanna International Group LLP raised its position in shares of Grove Collaborative Holdings, Inc. (NYSE:GROV) by 371.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,637 shares of the company’s stock after purchasing an additional 53,283 shares during the period. Susquehanna International Group LLP owned approximately 0.16% of Grove Collaborative worth $101,000 at the end of the most recent reporting period. 91.64% of the stock is owned by hedge funds and other institutional investors.

About Grove Collaborative

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.