Grove Collaborative (NYSE:GROV) Trading Down 1.4% – Should You Sell?

Grove Collaborative Holdings, Inc. (NYSE:GROV) was down 1.4% during trading on Wednesday . The stock traded as low as $1.35 and last traded at $1.39. Approximately 240,522 shares were traded during mid-day trading, an increase of 170% from the average daily volume of 89,009 shares. The stock had previously closed at $1.41.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $2.00 target price on shares of Grove Collaborative in a report on Wednesday, November 13th.

Grove Collaborative Stock Performance

The company has a debt-to-equity ratio of 14.58, a current ratio of 2.07 and a quick ratio of 1.45. The company has a market cap of $55.71 million, a PE ratio of -2.07 and a beta of 1.07. The business has a fifty day simple moving average of $1.40 and a two-hundred day simple moving average of $1.42.

Insider Activity at Grove Collaborative

In other news, CEO Jeffrey Michael Yurcisin acquired 35,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of $1.38 per share, with a total value of $48,300.00. Following the completion of the acquisition, the chief executive officer now owns 197,839 shares of the company’s stock, valued at approximately $273,017.82. This trade represents a 21.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 13.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Grove Collaborative

A hedge fund recently bought a new stake in Grove Collaborative stock. Renaissance Technologies LLC acquired a new position in Grove Collaborative Holdings, Inc. (NYSE:GROV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 21,700 shares of the company’s stock, valued at approximately $38,000. Renaissance Technologies LLC owned about 0.06% of Grove Collaborative at the end of the most recent quarter. Institutional investors and hedge funds 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.