Grove Collaborative (NYSE:GROV) Stock Price Up 4.5% – Should You Buy?

Grove Collaborative Holdings, Inc. (NYSE:GROV) shares traded up 4.5% on Monday . The company traded as high as $1.67 and last traded at $1.64. 59,263 shares traded hands during trading, a decline of 73% from the average session volume of 219,499 shares. The stock had previously closed at $1.57.

Analyst Ratings Changes

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

Grove Collaborative Stock Performance

The firm has a market cap of $63.89 million, a price-to-earnings ratio of -2.38 and a beta of 1.09. The company has a quick ratio of 1.45, a current ratio of 2.07 and a debt-to-equity ratio of 14.58. The company has a 50 day moving average of $1.45 and a 200 day moving average of $1.39.

Insiders Place Their Bets

In related news, CEO Jeffrey Michael Yurcisin purchased 35,000 shares of Grove Collaborative stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $1.38 per share, with a total value of $48,300.00. Following the completion of the transaction, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.13% of the stock is owned by company insiders.

Institutional Trading of Grove Collaborative

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Grove Collaborative by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 182,524 shares of the company’s stock valued at $246,000 after buying an additional 9,114 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Grove Collaborative in the 2nd quarter worth approximately $38,000. Finally, General Atlantic L.P. boosted its holdings in shares of Grove Collaborative by 164.4% in the fourth quarter. General Atlantic L.P. now owns 2,474,859 shares of the company’s stock valued at $3,440,000 after acquiring an additional 1,538,839 shares in the last 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.