Grove Collaborative’s (GROV) “Outperform” Rating Reaffirmed at Telsey Advisory Group

Grove Collaborative (NYSE:GROV)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Telsey Advisory Group in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $2.00 target price on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 23.08% from the company’s current price.

Grove Collaborative Price Performance

Shares of NYSE:GROV opened at $1.63 on Tuesday. The business has a fifty day simple moving average of $1.51 and a 200-day simple moving average of $1.42. The company has a quick ratio of 1.45, a current ratio of 2.07 and a debt-to-equity ratio of 14.58. Grove Collaborative has a 52 week low of $1.19 and a 52 week high of $2.44. The company has a market cap of $63.31 million, a P/E ratio of -2.36 and a beta of 1.09.

Institutional Trading of Grove Collaborative

Large investors have recently modified their holdings of the business. General Atlantic L.P. increased its stake in Grove Collaborative by 164.4% during the 4th quarter. General Atlantic L.P. now owns 2,474,859 shares of the company’s stock valued at $3,440,000 after buying an additional 1,538,839 shares during the period. Geode Capital Management LLC grew its holdings in shares of Grove Collaborative by 14.4% during the fourth quarter. Geode Capital Management LLC now owns 208,755 shares of the company’s stock valued at $290,000 after buying an additional 26,231 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Grove Collaborative by 54.1% in the 4th quarter. Northern Trust Corp now owns 96,471 shares of the company’s stock valued at $134,000 after purchasing an additional 33,850 shares during the period. Renaissance Technologies LLC increased its stake in shares of Grove Collaborative by 35.5% in the fourth quarter. Renaissance Technologies LLC now owns 43,500 shares of the company’s stock worth $60,000 after acquiring an additional 11,400 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Grove Collaborative by 93.7% during the 4th quarter. Millennium Management LLC now owns 24,333 shares of the company’s stock worth $34,000 after purchasing an additional 11,768 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

About Grove Collaborative

Grove Collaborative Holdings, Inc operates as a plastic neutral consumer products retailer in the United States. It offers household, personal care, beauty, and other consumer products through retail channels, third parties, direct-to-consumer platform, and mobile applications, as well as online store.