Grove Collaborative (NYSE:GROV) Stock Price Down 1.5% – Should You Sell?

Grove Collaborative Holdings, Inc. (NYSE:GROV) shares fell 1.5% during trading on Thursday . The company traded as low as $1.32 and last traded at $1.33. 35,641 shares traded hands during trading, a decline of 53% from the average session volume of 75,272 shares. The stock had previously closed at $1.35.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grove Collaborative in a research note on Monday. Canaccord Genuity Group upped their target price on Grove Collaborative from $1.50 to $2.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. One investment 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $1.60.

Grove Collaborative Trading Down 1.5%

The firm has a 50-day simple moving average of $1.43 and a two-hundred day simple moving average of $1.40. The company has a market capitalization of $55.05 million, a price-to-earnings ratio of -2.15 and a beta of 1.19.

Grove Collaborative (NYSE:GROV) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.06. The company had revenue of $43.73 million during the quarter, compared to analyst estimates of $44.60 million.

Institutional Investors Weigh In On Grove Collaborative

A hedge fund recently raised its stake in Grove Collaborative stock. Vanguard Group Inc. grew its position in shares of Grove Collaborative Holdings, Inc. (NYSE:GROV) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,069,804 shares of the company’s stock after purchasing an additional 61,028 shares during the quarter. Vanguard Group Inc. owned approximately 2.61% of Grove Collaborative worth $1,605,000 as of its most recent SEC filing. 91.64% of the stock is currently owned by institutional investors.

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.