Grove Collaborative (NYSE:GROV) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Grove Collaborative Holdings, Inc. (NYSE:GROV) passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $1.05 and traded as high as $1.12. Grove Collaborative shares last traded at $1.0650, with a volume of 28,410 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Zacks Research upgraded shares of Grove Collaborative to a “hold” rating in a research note on Friday, October 2nd. Weiss Ratings downgraded shares of Grove Collaborative from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Grove Collaborative currently has an average rating of “Reduce”.

Grove Collaborative Price Performance

The stock has a market capitalization of $45.48 million, a P/E ratio of -8.87 and a beta of 1.05. The stock has a fifty day moving average price of $1.05 and a 200 day moving average price of $1.19.

Grove Collaborative (NYSE:GROV) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The company had revenue of $36.82 million for the quarter, compared to the consensus estimate of $37.35 million. Research analysts anticipate that Grove Collaborative Holdings, Inc. will post -0.16 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jason Karp bought 55,000 shares of Grove Collaborative stock in a transaction on Tuesday, September 1st. The stock was acquired at an average price of $1.03 per share, with a total value of $56,650.00. Following the acquisition, the director directly owned 575,000 shares of the company’s stock, valued at $592,250. This represents a 10.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders bought 95,825 shares of company stock valued at $99,708. 30.30% of the stock is 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.