Grove Collaborative (NYSE:GROV) Posts Quarterly Earnings Results

Key Points

• Grove Collaborative reported a quarterly loss of ($0.10) earnings per share, missing the analysts' consensus estimate of ($0.09) by $0.01, with revenues of $44.00 million compared to expectations of $44.37 million.
• Despite a disappointing earnings report, Grove Collaborative's stock saw a trading increase, reaching $1.41, with a market cap of $56.89 million.
• Insider activity included Director John B. Replogle purchasing 42,735 shares at $1.18 each, representing a 9.39% increase in ownership, with insiders owning 29.40% of the stock.

Grove Collaborative (NYSE:GROV - Get Free Report) announced its earnings results on Thursday, August 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01), Zacks reports. The company had revenue of $44.00 million during the quarter, compared to the consensus estimate of $44.37 million. Grove Collaborative had a negative net margin of 11.41% and a negative return on equity of 6,372.67%.

Grove Collaborative Stock Performance

Shares of NYSE:GROV traded up $0.01 during trading hours on Thursday, hitting $1.48. 43,117 shares of the company's stock traded hands, compared to its average volume of 114,493. The company's fifty day simple moving average is $1.32 and its two-hundred day simple moving average is $1.36. The company has a market cap of $59.38 million, a price-to-earnings ratio of -2.54 and a beta of 1.20. Grove Collaborative has a 52 week low of $1.02 and a 52 week high of $1.95.

Insider Activity

In other Grove Collaborative news, Director John B. Replogle acquired 42,735 shares of the stock in a transaction dated Wednesday, May 21st. The shares were bought at an average price of $1.18 per share, with a total value of $50,427.30. Following the purchase, the director directly owned 497,859 shares of the company's stock, valued at approximately $587,473.62. This trade represents a 9.39% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have purchased 144,317 shares of company stock valued at $175,557. Insiders own 29.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Telsey Advisory Group reiterated a "market perform" rating and issued a $1.20 target price (down previously from $2.00) on shares of Grove Collaborative in a research report on Thursday, May 15th. Canaccord Genuity Group decreased their target price on shares of Grove Collaborative from $3.00 to $1.50 and set a "buy" rating for the company in a research report on Friday, August 8th.

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.