Grove Collaborative (NYSE:GROV) Stock Price Down 0.7% – Should You Sell?

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

Analyst Upgrades and Downgrades

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

Grove Collaborative Stock Down 0.7 %

The company has a market cap of $57.66 million, a P/E ratio of -2.14 and a beta of 1.07. The company has a debt-to-equity ratio of 14.58, a current ratio of 2.07 and a quick ratio of 1.45. The company’s 50-day moving average is $1.37 and its two-hundred day moving average is $1.44.

Insiders Place Their Bets

In related news, CEO Jeffrey Michael Yurcisin bought 35,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average price of $1.38 per share, for a total transaction 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. This trade represents a 21.49 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On Grove Collaborative

A hedge fund recently bought a new stake in Grove Collaborative stock. Renaissance Technologies LLC acquired a new position in Grove Collaborative Holdings, Inc. (NYSE:GROV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,700 shares of the company’s stock, valued at approximately $38,000. Renaissance Technologies LLC owned about 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.

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.