Grove Collaborative (NYSE:GROV) Trading Down 2.4% – What’s Next?

Grove Collaborative Holdings, Inc. (NYSE:GROV) traded down 2.4% during mid-day trading on Monday . The company traded as low as $1.1868 and last traded at $1.21. 27,051 shares changed hands during trading, a decline of 54% from the average session volume of 58,524 shares. The stock had previously closed at $1.24.

Wall Street Analyst Weigh In

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

Grove Collaborative Stock Performance

The stock’s fifty day simple moving average is $1.21 and its two-hundred day simple moving average is $1.28. The company has a market cap of $51.06 million, a price-to-earnings ratio of -4.67 and a beta of 1.06.

Grove Collaborative (NYSE:GROV) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.03) earnings per share for the quarter, topping 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% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 67,637 shares of the company’s stock after acquiring an additional 53,283 shares during the quarter. Susquehanna International Group LLP owned approximately 0.16% of Grove Collaborative worth $101,000 as of its most recent filing with the SEC. 91.64% of the stock is owned by hedge funds and other institutional investors.

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.