Grove Collaborative's (GROV) Outperform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Grove Collaborative (NYSE:GROV - Free Report) in a report published on Tuesday, Benzinga reports. Telsey Advisory Group currently has a $3.00 price target on the stock.

Grove Collaborative Stock Up 5.3 %

GROV stock traded up $0.08 during midday trading on Tuesday, hitting $1.70. The company's stock had a trading volume of 173,029 shares, compared to its average volume of 80,697. The company has a market cap of $64.70 million, a PE ratio of -1.30 and a beta of 0.89. The firm's 50-day moving average is $1.73 and its 200-day moving average is $1.81. Grove Collaborative has a 12 month low of $1.37 and a 12 month high of $3.81. The company has a current ratio of 3.54, a quick ratio of 2.72 and a debt-to-equity ratio of 8.82.

Grove Collaborative (NYSE:GROV - Get Free Report) last released its quarterly earnings data on Wednesday, March 6th. The company reported ($0.23) EPS for the quarter. The business had revenue of $59.86 million during the quarter, compared to the consensus estimate of $61.70 million. Grove Collaborative had a negative return on equity of 233.28% and a negative net margin of 16.67%.

Insiders Place Their Bets

In other news, Director John B. Replogle purchased 25,900 shares of the company's stock in a transaction dated Monday, March 11th. The shares were purchased at an average cost of $1.93 per share, for a total transaction of $49,987.00. Following the purchase, the director now directly owns 349,605 shares in the company, valued at approximately $674,737.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders purchased 52,523 shares of company stock valued at $103,417 and sold 19,455 shares valued at $32,263. 13.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Grove Collaborative

A hedge fund recently raised its stake in Grove Collaborative stock. SVB Wealth LLC grew its holdings in Grove Collaborative Holdings, Inc. (NYSE:GROV - Free Report) by 100.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,340 shares of the company's stock after acquiring an additional 15,170 shares during the period. SVB Wealth LLC owned 0.08% of Grove Collaborative worth $54,000 as of its most recent SEC filing. Institutional investors own 91.64% of the company's stock.

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.