Grove Collaborative (NYSE:GROV) Shares Up 1.5% – Time to Buy?

Grove Collaborative Holdings, Inc. (NYSE:GROV)’s stock price shot up 1.5% during mid-day trading on Wednesday . The stock traded as high as $1.40 and last traded at $1.36. 28,268 shares changed hands during trading, a decline of 72% from the average session volume of 102,365 shares. The stock had previously closed at $1.34.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reissued an “outperform” rating and issued a $2.00 price target on shares of Grove Collaborative in a report on Wednesday, March 12th.

Grove Collaborative Trading Up 1.5 %

The stock has a market cap of $54.61 million, a P/E ratio of -1.97 and a beta of 1.04. The stock’s 50-day moving average is $1.57 and its two-hundred day moving average is $1.45. The company has a debt-to-equity ratio of 14.58, a current ratio of 2.07 and a quick ratio of 1.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in shares of Grove Collaborative by 5.3% in the third quarter. Geode Capital Management LLC now owns 182,524 shares of the company’s stock worth $246,000 after purchasing an additional 9,114 shares during the last quarter. Renaissance Technologies LLC increased its stake in Grove Collaborative by 35.5% in the 4th quarter. Renaissance Technologies LLC now owns 43,500 shares of the company’s stock worth $60,000 after acquiring an additional 11,400 shares during the last quarter. Millennium Management LLC increased its stake in Grove Collaborative by 93.7% in the 4th quarter. Millennium Management LLC now owns 24,333 shares of the company’s stock worth $34,000 after acquiring an additional 11,768 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Grove Collaborative during the 4th quarter worth approximately $33,000. Finally, Northern Trust Corp boosted its position in shares of Grove Collaborative by 54.1% during the 4th quarter. Northern Trust Corp now owns 96,471 shares of the company’s stock valued at $134,000 after acquiring an additional 33,850 shares during the last 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.