Grove Collaborative (NYSE:GROV) Shares Down 2.6% – Here’s What Happened

Grove Collaborative Holdings, Inc. (NYSE:GROV) dropped 2.6% on Monday . The company traded as low as $1.1050 and last traded at $1.14. Approximately 84,490 shares traded hands during trading, an increase of 69% from the average daily volume of 49,899 shares. The stock had previously closed at $1.17.

Analyst Ratings Changes

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

Grove Collaborative Stock Down 2.6%

The stock has a market cap of $47.90 million, a PE ratio of -4.38 and a beta of 1.06. The company has a fifty day moving average price of $1.25 and a 200 day moving average price of $1.30.

Grove Collaborative (NYSE:GROV) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.06. The company had revenue of $36.22 million during the quarter, compared to analysts’ expectations of $33.10 million.

Institutional Trading of Grove Collaborative

A hedge fund recently raised its stake 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 its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,637 shares of the company’s stock after purchasing 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 Securities and Exchange Commission (SEC). Institutional investors own 91.64% of the company’s stock.

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.