Grove Collaborative (NYSE:GROV) Coverage Initiated at Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of Grove Collaborative (NYSE:GROVGet Rating) in a report issued on Wednesday, The Fly reports. The firm set a “buy” rating on the stock.

Separately, Telsey Advisory Group lowered their price objective on shares of Grove Collaborative from $10.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, November 4th.

Grove Collaborative Stock Performance

Shares of GROV opened at $0.99 on Wednesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.19 and a current ratio of 1.79. The business’s 50 day simple moving average is $2.45. Grove Collaborative has a 12-month low of $0.94 and a 12-month high of $12.50.

Insider Activity at Grove Collaborative

In related news, major shareholder Sculptor Capital Management, I sold 64,344 shares of Grove Collaborative stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $3.77, for a total value of $242,576.88. Following the transaction, the insider now directly owns 32,163 shares in the company, valued at approximately $121,254.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 330,599 shares of company stock worth $943,944 in the last three months.

Institutional Investors Weigh In On Grove Collaborative

Several institutional investors have recently made changes to their positions in GROV. Exos Asset Management LLC purchased a new stake in shares of Grove Collaborative during the 2nd quarter worth $25,000. Bayesian Capital Management LP purchased a new stake in shares of Grove Collaborative during the 3rd quarter worth $28,000. Tower Research Capital LLC TRC raised its stake in shares of Grove Collaborative by 14,029.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 13,988 shares of the company’s stock worth $31,000 after buying an additional 13,889 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Grove Collaborative during the 3rd quarter worth $35,000. Finally, Glynn Capital Management LLC acquired a new position in shares of Grove Collaborative during the 3rd quarter worth $56,000. 60.99% of the stock is currently owned by hedge funds and other institutional investors.

About Grove Collaborative

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Grove Collaborative Holdings, Inc operates as a plastic neutral consumer products retailer in the United States. It provides cleaning essentials, such as kitchen and bathroom cleaning products, household cleaners, hand and dish soaps, paper products, and laundry care products; home and pantry products, including home fragrances, bedding and bath products, cookware and dinnerware, and pest control products, as well as trash, recycling, and compost bags; and clean beauty, haircare, skincare, oral care, period care, and kids and personal care products.

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