Grove Collaborative (NYSE:GROV) Stock Price Down 1.4% – Should You Sell?

Grove Collaborative Holdings, Inc. (NYSE:GROV) shares fell 1.4% on Wednesday . The stock traded as low as $1.35 and last traded at $1.39. 240,522 shares changed hands during mid-day trading, an increase of 170% from the average session volume of 89,009 shares. The stock had previously closed at $1.41.

Analysts Set New Price Targets

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

Grove Collaborative Stock Down 1.4 %

The company has a market capitalization of $54.16 million, a PE ratio of -2.01 and a beta of 1.07. The stock’s 50 day moving average is $1.40 and its 200 day moving average is $1.42. The company has a debt-to-equity ratio of 14.58, a quick ratio of 1.45 and a current ratio of 2.07.

Insider Activity

In other Grove Collaborative news, CEO Jeffrey Michael Yurcisin acquired 35,000 shares of the 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 transaction, the chief executive officer now owns 197,839 shares of the company’s stock, valued at approximately $273,017.82. This represents a 21.49 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On Grove Collaborative

An institutional investor recently bought a new position in Grove Collaborative stock. Renaissance Technologies LLC acquired a new position in Grove Collaborative Holdings, Inc. (NYSE:GROV) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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. 91.64% of the stock is owned by institutional investors.

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.