Grove Collaborative (NYSE:GROV) Posts Earnings Results

Grove Collaborative (NYSE:GROV) announced its quarterly earnings data on Tuesday. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04, FiscalAI reports. The company had revenue of $36.82 million for the quarter, compared to analysts’ expectations of $37.35 million.

Grove Collaborative Stock Up 0.5%

Shares of NYSE GROV traded up $0.01 on Tuesday, hitting $1.10. The company had a trading volume of 19,850 shares, compared to its average volume of 63,084. Grove Collaborative has a 12-month low of $0.86 and a 12-month high of $1.55. The business has a 50 day moving average of $1.05 and a two-hundred day moving average of $1.19. The firm has a market capitalization of $47.18 million, a P/E ratio of -5.82 and a beta of 1.05.

Analysts Set New Price Targets

GROV has been the topic of several research reports. Zacks Research raised Grove Collaborative to a “hold” rating in a research report on Friday, October 2nd. Weiss Ratings downgraded Grove Collaborative from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, October 29th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Grove Collaborative presently has a consensus rating of “Hold” and a consensus price target of $2.00.

Insider Activity

In related news, Director Jason Karp bought 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were acquired at an average cost of $1.03 per share, for a total transaction of $56,650.00. Following the acquisition, the director owned 575,000 shares in the company, valued at $592,250. This represents a 10.58% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders bought a total of 95,825 shares of company stock valued at $99,708 in the last ninety days. 30.30% of the stock is currently owned by company insiders.

About Grove Collaborative

Grove Collaborative Holdings, Inc. operates an online marketplace focused on natural and environmentally conscious household, personal care and beauty products. The company offers cleaning supplies, laundry products, paper goods, personal care items, cosmetics, wellness products and pet-care essentials through its digital platform. Grove sells products under its own brands, including Grove Co., as well as products from selected third-party brands. Its platform is designed to support recurring purchases and convenient home delivery, while emphasizing ingredient transparency, sustainability and reduced packaging impact.