Grove Collaborative (NYSE:GROV) Stock Price Down 6.9% – Should You Sell?

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

Analyst Upgrades and Downgrades

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, the company presently has a consensus rating of “Hold” and a consensus price target of $1.60.

Grove Collaborative Trading Down 6.9%

The company has a fifty day moving average price of $1.40 and a two-hundred day moving average price of $1.38. The firm has a market capitalization of $50.84 million, a price-to-earnings ratio of -3.67 and a beta of 1.22.

Grove Collaborative (NYSE:GROV) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.04. The company had revenue of $42.41 million during the quarter, compared to analyst estimates of $42.86 million.

Institutional Trading of Grove Collaborative

An institutional investor recently raised its position in Grove Collaborative stock. Susquehanna International Group LLP lifted its stake in shares of Grove Collaborative Holdings, Inc. (NYSE:GROV) by 371.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,637 shares of the company’s stock after acquiring an additional 53,283 shares during the period. Susquehanna International Group LLP owned 0.16% of Grove Collaborative worth $101,000 as of its most recent filing with the Securities & Exchange Commission. 91.64% of the stock is currently owned by institutional investors.

About Grove Collaborative

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.