Grove Collaborative Holdings, Inc. (NYSE:GROV) Short Interest Up 28.9% in December

Grove Collaborative Holdings, Inc. (NYSE:GROV) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,470,000 shares, an increase of 28.9% from the December 15th total of 1,140,000 shares. Based on an average daily trading volume, of 148,600 shares, the days-to-cover ratio is currently 9.9 days. Currently, 7.6% of the company’s shares are sold short.

Insider Transactions at Grove Collaborative

In related news, CEO Jeffrey Michael Yurcisin acquired 35,000 shares of the stock in a transaction on Monday, November 18th. The stock was bought at an average cost of $1.38 per share, with a total value of $48,300.00. Following the transaction, the chief executive officer now directly owns 197,839 shares in the company, valued at approximately $273,017.82. This represents a 21.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 13.13% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Grove Collaborative stock. Renaissance Technologies LLC purchased a new stake in Grove Collaborative Holdings, Inc. (NYSE:GROV) during the second quarter, according to its most recent filing with the SEC. The firm purchased 21,700 shares of the company’s stock, valued at approximately $38,000. Renaissance Technologies LLC owned 0.06% of Grove Collaborative at the end of the most recent quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Grove Collaborative Stock Down 2.7 %

Shares of GROV traded down $0.04 during midday trading on Friday, reaching $1.32. 71,489 shares of the stock were exchanged, compared to its average volume of 175,281. The company has a current ratio of 2.07, a quick ratio of 1.45 and a debt-to-equity ratio of 14.58. The company’s 50 day moving average is $1.43 and its two-hundred day moving average is $1.41. The company has a market capitalization of $51.55 million, a P/E ratio of -1.92 and a beta of 1.08. Grove Collaborative has a 52 week low of $1.19 and a 52 week high of $2.44.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reiterated an “outperform” rating and issued a $2.00 price target on shares of Grove Collaborative in a report on Wednesday, November 13th.

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.