Grove Collaborative (NYSE:GROV) Shares Down 0.7% – Here’s What Happened

Grove Collaborative Holdings, Inc. (NYSE:GROV)’s share price traded down 0.7% during trading on Tuesday . The company traded as low as $1.45 and last traded at $1.48. 51,573 shares were traded during trading, a decline of 41% from the average session volume of 87,330 shares. The stock had previously closed at $1.49.

Analysts Set New Price Targets

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

Grove Collaborative Trading Up 3.4 %

The company has a debt-to-equity ratio of 14.58, a quick ratio of 1.45 and a current ratio of 2.07. The firm has a market capitalization of $58.83 million, a price-to-earnings ratio of -2.14 and a beta of 1.07. The company has a 50-day moving average price of $1.37 and a 200-day moving average price of $1.44.

Insider Activity

In other news, CEO Jeffrey Michael Yurcisin acquired 35,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was acquired at an average cost of $1.38 per share, with a total value of $48,300.00. Following the completion of the acquisition, the chief executive officer now owns 197,839 shares of the company’s stock, valued at $273,017.82. The trade was a 21.49 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.13% of the company’s stock.

Institutional Trading of Grove Collaborative

An institutional investor recently bought a new position in Grove Collaborative stock. Renaissance Technologies LLC acquired a new position in shares of Grove Collaborative Holdings, Inc. (NYSE:GROV) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 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. Hedge funds and other 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.