Grove Collaborative (NYSE:GROV) Stock Price Down 2% – Here’s Why

Grove Collaborative Holdings, Inc. (NYSE:GROV)’s stock price traded down 2% during trading on Monday . The company traded as low as $0.92 and last traded at $0.9786. 17,863 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 37,990 shares. The stock had previously closed at $0.9989.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Grove Collaborative from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Grove Collaborative currently has a consensus rating of “Hold” and an average target price of $2.00.

Grove Collaborative Stock Down 2.0%

The company has a 50-day simple moving average of $1.10 and a two-hundred day simple moving average of $1.22. The stock has a market cap of $41.79 million, a P/E ratio of -5.15 and a beta of 1.04.

Grove Collaborative (NYSE:GROV) last issued its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. The firm had revenue of $36.57 million during the quarter, compared to the consensus estimate of $36.70 million.

Institutional Trading of Grove Collaborative

A hedge fund recently raised its position in Grove Collaborative stock. Susquehanna International Group LLP grew its stake in Grove Collaborative Holdings, Inc. (NYSE:GROV) by 371.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,637 shares of the company’s stock after purchasing an additional 53,283 shares during the quarter. Susquehanna International Group LLP owned about 0.16% of Grove Collaborative worth $101,000 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 is a direct-to-consumer digital marketplace offering a broad assortment of sustainable home and personal care products. Operating as a public benefit corporation, the company provides an online platform designed to simplify the shopping experience for eco-friendly essentials, including cleaning supplies, personal care items, baby and family products, wellness goods and pet care.

The company’s business model centers on a subscription-based delivery service that enables members to schedule regular shipments of both third-party and private-label products.