Grove Collaborative (NYSE:GROV) Stock Price Down 6.9% – Should You Sell?

Grove Collaborative Holdings, Inc. (NYSE:GROV) was down 6.9% during trading on Friday . The stock traded as low as $1.20 and last traded at $1.21. Approximately 148,966 shares were traded during mid-day trading, an increase of 53% from the average daily volume of 97,389 shares. The stock had previously closed at $1.30.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Grove Collaborative in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $1.60.

Grove Collaborative Trading Down 6.9%

The company has a fifty day moving average of $1.40 and a 200-day moving average of $1.38. The company has a market capitalization of $50.84 million, a price-to-earnings ratio of -3.67 and a beta of 1.22.

Grove Collaborative (NYSE:GROV) last announced its earnings results on Thursday, March 5th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. The firm had revenue of $42.41 million for the quarter, compared to analyst estimates of $42.86 million.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Grove Collaborative stock. Vanguard Group Inc. grew its holdings in shares of Grove Collaborative Holdings, Inc. (NYSE:GROV) by 6.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,069,804 shares of the company’s stock after purchasing an additional 61,028 shares during the quarter. Vanguard Group Inc. owned approximately 2.61% of Grove Collaborative worth $1,605,000 at the end of the most recent quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Grove Collaborative Company Profile

Grove Collaborative is a direct-to-consumer digital marketplace offering a broad assortment of sustainable home and personal care products. Operating as a public benefit corporation, the company provides an online platform designed to simplify the shopping experience for eco-friendly essentials, including cleaning supplies, personal care items, baby and family products, wellness goods and pet care.

The company’s business model centers on a subscription-based delivery service that enables members to schedule regular shipments of both third-party and private-label products.