Telsey Advisory Group Reiterates “Outperform” Rating for Grove Collaborative (NYSE:GROV)

Telsey Advisory Group restated their outperform rating on shares of Grove Collaborative (NYSE:GROV – Get Rating) in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a $3.00 price objective on the stock.

Other research analysts have also issued reports about the company. Canaccord Genuity Group initiated coverage on Grove Collaborative in a research note on Wednesday, November 16th. They issued a buy rating for the company. Canaccord Genuity Group started coverage on Grove Collaborative in a research note on Thursday, November 17th. They issued a buy rating and a $2.00 target price for the company.

Grove Collaborative Price Performance

Shares of NYSE GROV opened at $0.33 on Wednesday. The firm has a 50-day moving average of $0.48 and a two-hundred day moving average of $1.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.79 and a quick ratio of 1.19. Grove Collaborative has a twelve month low of $0.18 and a twelve month high of $12.50.

Institutional Investors Weigh In On Grove Collaborative

Hedge funds have recently modified their holdings of the business. Exos Asset Management LLC acquired a new stake in Grove Collaborative in the 2nd quarter valued at approximately $25,000. Bayesian Capital Management LP acquired a new position in shares of Grove Collaborative during the 3rd quarter worth approximately $28,000. Tower Research Capital LLC TRC boosted its stake in shares of Grove Collaborative by 14,029.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 13,988 shares of the company’s stock worth $31,000 after acquiring an additional 13,889 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Grove Collaborative during the 3rd quarter worth approximately $35,000. Finally, Glynn Capital Management LLC bought a new stake in Grove Collaborative in the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 46.51% of the company’s stock.

About Grove Collaborative

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Grove Collaborative Holdings, Inc operates as a plastic neutral consumer products retailer in the United States. It provides cleaning essentials, such as kitchen and bathroom cleaning products, household cleaners, hand and dish soaps, paper products, and laundry care products; home and pantry products, including home fragrances, bedding and bath products, cookware and dinnerware, and pest control products, as well as trash, recycling, and compost bags; and clean beauty, haircare, skincare, oral care, period care, and kids and personal care products.