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

Telsey Advisory Group reiterated their outperform rating on shares of Grove Collaborative (NYSE:GROV) in a report issued on Tuesday morning,Benzinga reports. Telsey Advisory Group currently has a $2.00 price objective on the stock.

Grove Collaborative Trading Down 0.9 %

NYSE GROV opened at $1.63 on Tuesday. The stock’s 50-day simple moving average is $1.53 and its two-hundred day simple moving average is $1.42. Grove Collaborative has a twelve month low of $1.19 and a twelve month high of $2.24. The company has a quick ratio of 1.45, a current ratio of 2.07 and a debt-to-equity ratio of 14.58. The company has a market capitalization of $63.31 million, a price-to-earnings ratio of -2.36 and a beta of 1.04.

Institutional Investors Weigh In On Grove Collaborative

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Grove Collaborative by 5.3% during the third quarter. Geode Capital Management LLC now owns 182,524 shares of the company’s stock valued at $246,000 after purchasing an additional 9,114 shares in the last quarter. Millennium Management LLC raised its position in Grove Collaborative by 93.7% during the fourth quarter. Millennium Management LLC now owns 24,333 shares of the company’s stock valued at $34,000 after purchasing an additional 11,768 shares in the last quarter. Northern Trust Corp raised its position in Grove Collaborative by 54.1% during the fourth 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 in the last quarter. Renaissance Technologies LLC increased its holdings 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 buying an additional 11,400 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Grove Collaborative in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Grove Collaborative Company Profile

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.