Grove Collaborative (NYSE:GROV) Trading 2.7% Higher – Time to Buy?

Shares of Grove Collaborative Holdings, Inc. (NYSE:GROV) traded up 2.7% during mid-day trading on Tuesday . The company traded as high as $1.53 and last traded at $1.52. 40,694 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 50,241 shares. The stock had previously closed at $1.48.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Grove Collaborative in a research note on Monday, December 22nd. Canaccord Genuity Group lifted their price objective on Grove Collaborative from $1.50 to $2.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $1.60.

Grove Collaborative Stock Up 2.7%

The company’s fifty day moving average price is $1.28 and its two-hundred day moving average price is $1.40. The company has a market cap of $62.91 million, a price-to-earnings ratio of -2.45 and a beta of 1.22.

Grove Collaborative (NYSE:GROV) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. The business had revenue of $43.73 million for the quarter, compared to the consensus estimate of $44.60 million.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Grove Collaborative stock. Susquehanna International Group LLP boosted its stake in shares of Grove Collaborative Holdings, Inc. (NYSE:GROV) by 371.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,637 shares of the company’s stock after acquiring an additional 53,283 shares during the quarter. Susquehanna International Group LLP owned approximately 0.16% of Grove Collaborative worth $101,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 91.64% of the company’s stock.

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.