Grove Collaborative (NYSE:GROV) Shares Down 1.4% – Here’s What Happened

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

Analysts Set New Price Targets

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

Grove Collaborative Stock Performance

The firm has a 50 day moving average of $1.40 and a two-hundred day moving average of $1.42. 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 stock has a market cap of $55.71 million, a PE ratio of -2.07 and a beta of 1.07.

Insider Activity at Grove Collaborative

In other news, CEO Jeffrey Michael Yurcisin purchased 35,000 shares of the stock in a transaction dated Monday, November 18th. The stock was acquired at an average cost of $1.38 per share, for a total transaction of $48,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 197,839 shares in the company, valued at $273,017.82. This represents a 21.49 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.13% of the stock is currently owned by company insiders.

Institutional Trading of Grove Collaborative

An institutional investor recently bought a new position in Grove Collaborative stock. Renaissance Technologies LLC purchased a new stake in shares of Grove Collaborative Holdings, Inc. (NYSE:GROV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,700 shares of the company’s stock, valued at approximately $38,000. Renaissance Technologies LLC owned approximately 0.06% of Grove Collaborative at the end of the most recent quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

About Grove Collaborative

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.