Grove Collaborative (NYSE:GROV) Issues Earnings Results

Grove Collaborative (NYSE:GROV) released its quarterly earnings data on Tuesday. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04, FiscalAI reports. The firm had revenue of $36.82 million during the quarter, compared to analysts’ expectations of $37.35 million.

Grove Collaborative Trading Up 0.5%

GROV traded up $0.01 during trading on Tuesday, reaching $1.10. The stock had a trading volume of 19,850 shares, compared to its average volume of 63,084. The stock’s 50 day moving average is $1.05 and its two-hundred day moving average is $1.19. The company has a market capitalization of $47.18 million, a price-to-earnings ratio of -5.82 and a beta of 1.05. Grove Collaborative has a one year low of $0.86 and a one year high of $1.55.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Zacks Research upgraded shares of Grove Collaborative to a “hold” rating in a report on Friday, October 2nd. Weiss Ratings lowered Grove Collaborative from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $2.00.

Insider Activity at Grove Collaborative

In other Grove Collaborative news, Director Jason Karp bought 55,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were purchased at an average price of $1.03 per share, for a total transaction of $56,650.00. Following the acquisition, the director owned 575,000 shares in the company, valued at approximately $592,250. This represents a 10.58% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have acquired 95,825 shares of company stock worth $99,708. Insiders own 30.30% of the company’s stock.

Grove Collaborative Company Profile

Grove Collaborative Holdings, Inc. operates an online marketplace focused on natural and environmentally conscious household, personal care and beauty products. The company offers cleaning supplies, laundry products, paper goods, personal care items, cosmetics, wellness products and pet-care essentials through its digital platform. Grove sells products under its own brands, including Grove Co., as well as products from selected third-party brands. Its platform is designed to support recurring purchases and convenient home delivery, while emphasizing ingredient transparency, sustainability and reduced packaging impact.