Grove Collaborative (NYSE:GROV) Receives Outperform Rating from Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Grove Collaborative (NYSE:GROV) in a research note published on Wednesday,Benzinga reports. The brokerage currently has a $2.00 price target on the stock.

Grove Collaborative Price Performance

Shares of Grove Collaborative stock opened at $1.63 on Wednesday. Grove Collaborative has a 52-week low of $1.19 and a 52-week high of $2.00. The stock has a market capitalization of $63.31 million, a price-to-earnings ratio of -2.36 and a beta of 1.04. The company has a fifty day moving average of $1.54 and a 200-day moving average of $1.43. The company has a debt-to-equity ratio of 14.58, a quick ratio of 1.45 and a current ratio of 2.07.

Institutional Investors Weigh In On Grove Collaborative

A number of institutional investors have recently made changes to their positions in GROV. General Atlantic L.P. boosted its position in Grove Collaborative by 164.4% during the 4th quarter. General Atlantic L.P. now owns 2,474,859 shares of the company’s stock valued at $3,440,000 after buying an additional 1,538,839 shares during the period. Northern Trust Corp boosted its position in 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 buying an additional 33,850 shares during the period. Geode Capital Management LLC boosted its position in Grove Collaborative by 14.4% during the 4th quarter. Geode Capital Management LLC now owns 208,755 shares of the company’s stock valued at $290,000 after buying an additional 26,231 shares during the period. XTX Topco Ltd purchased a new stake in Grove Collaborative during the 4th quarter valued at $33,000. Finally, Millennium Management LLC boosted its position in Grove Collaborative by 93.7% during the 4th quarter. Millennium Management LLC now owns 24,333 shares of the company’s stock valued at $34,000 after buying an additional 11,768 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

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.