Grove Collaborative (NYSE:GROV) Given “Outperform” Rating at Telsey Advisory Group

Grove Collaborative (NYSE:GROV)‘s stock had its “outperform” rating reaffirmed by Telsey Advisory Group in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $2.00 price objective on the stock. Telsey Advisory Group’s target price points to a potential upside of 49.25% from the company’s previous close.

Grove Collaborative Trading Down 11.8 %

Grove Collaborative stock traded down $0.18 during trading hours on Wednesday, hitting $1.34. The stock had a trading volume of 156,724 shares, compared to its average volume of 82,263. The stock has a market cap of $52.21 million, a price-to-earnings ratio of -1.94 and a beta of 0.97. The company has a quick ratio of 2.92, a current ratio of 3.88 and a debt-to-equity ratio of 107.00. The business’s 50 day simple moving average is $1.34 and its 200-day simple moving average is $1.46. Grove Collaborative has a one year low of $1.19 and a one year high of $2.49.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Grove Collaborative stock. Renaissance Technologies LLC acquired a new stake in Grove Collaborative Holdings, Inc. (NYSE:GROV) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 21,700 shares of the company’s stock, valued at approximately $38,000. Renaissance Technologies LLC owned about 0.06% of Grove Collaborative as of its most recent filing with the SEC. 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.