Grove Collaborative (NYSE:GROV) Issues Earnings Results, Beats Expectations By $0.04 EPS

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

Grove Collaborative Trading Up 0.5%

NYSE GROV traded up $0.01 during trading hours on Tuesday, reaching $1.10. 19,850 shares of the company traded hands, 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 stock has a market capitalization of $47.18 million, a PE ratio of -5.82 and a beta of 1.05. The company has a 50 day moving average of $1.05 and a two-hundred day moving average of $1.19.

Insiders Place Their Bets

In related news, Director Jason Karp bought 55,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was bought at an average price of $1.03 per share, with a total value of $56,650.00. Following the transaction, the director owned 575,000 shares of the company’s stock, valued at approximately $592,250. This trade represents a 10.58% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have acquired 95,825 shares of company stock worth $99,708. 30.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Zacks Research raised shares of Grove Collaborative to a “hold” rating in a research report on Friday, October 2nd. Weiss Ratings cut Grove Collaborative from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2.00.

Grove Collaborative Company Profile

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.