Grove Collaborative (NYSE:GROV) Trading Down 6.9% – Here’s What Happened

Grove Collaborative Holdings, Inc. (NYSE:GROV) shares traded down 6.9% on Friday . The company traded as low as $1.20 and last traded at $1.21. 148,966 shares changed hands during mid-day trading, an increase of 53% from the average session volume of 97,389 shares. The stock had previously closed at $1.30.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Grove Collaborative in a research note on Monday, December 22nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Grove Collaborative currently has an average rating of “Hold” and an average target price of $1.60.

Grove Collaborative Price Performance

The firm has a market capitalization of $50.84 million, a PE ratio of -3.67 and a beta of 1.22. The firm’s fifty day moving average is $1.40 and its two-hundred day moving average is $1.38.

Grove Collaborative (NYSE:GROV) last announced its earnings results on Thursday, March 5th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. The business had revenue of $42.41 million during the quarter, compared to analysts’ expectations of $42.86 million.

Institutional Investors Weigh In On Grove Collaborative

An institutional investor recently raised its position in Grove Collaborative stock. Susquehanna International Group LLP lifted its holdings in shares of Grove Collaborative Holdings, Inc. (NYSE:GROV) by 371.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,637 shares of the company’s stock after purchasing an additional 53,283 shares during the period. Susquehanna International Group LLP owned about 0.16% of Grove Collaborative worth $101,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.