Weiss Ratings Reaffirms "Sell (D-)" Rating for Grove Collaborative (NYSE:GROV)

Key Points

• Weiss Ratings reaffirmed a "Sell (D-)" rating for Grove Collaborative, indicating ongoing concerns about the company's performance.
• Canaccord Genuity Group has lowered their target price for Grove Collaborative from $3.00 to $1.50, suggesting a cautious outlook, despite issuing a "buy" rating.
• Grove Collaborative reported an EPS of ($0.10) for the most recent quarter, missing consensus estimates, along with revenues slightly below analyst expectations.

Grove Collaborative (NYSE:GROV - Get Free Report)'s stock had its "sell (d-)" rating restated by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Canaccord Genuity Group cut 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 note on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Grove Collaborative currently has a consensus rating of "Hold" and an average target price of $1.35.

Grove Collaborative Price Performance

GROV stock opened at $1.54 on Wednesday. Grove Collaborative has a 12 month low of $1.02 and a 12 month high of $1.95. The firm has a market cap of $63.16 million, a PE ratio of -2.66 and a beta of 1.21. The firm has a 50 day simple moving average of $1.49 and a 200 day simple moving average of $1.34.

Grove Collaborative (NYSE:GROV - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $44.00 million for the quarter, compared to analyst estimates of $44.37 million.

Institutional Trading of Grove Collaborative

A hedge fund recently raised its stake in Grove Collaborative stock. Millennium Management LLC raised its position in shares of Grove Collaborative Holdings, Inc. (NYSE:GROV - Free Report) by 93.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,333 shares of the company's stock after purchasing an additional 11,768 shares during the quarter. Millennium Management LLC owned 0.06% of Grove Collaborative worth $34,000 at the end of the most recent quarter. 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.

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