Shares of Grove Collaborative Holdings, Inc. (NYSE:GROV – Get Free Report) were down 1.8% on Tuesday . The company traded as low as $1.61 and last traded at $1.63. Approximately 27,538 shares changed hands during trading, a decline of 66% from the average daily volume of 79,930 shares. The stock had previously closed at $1.66.
Wall Street Analysts Forecast Growth
Separately, Telsey Advisory Group reissued an “outperform” rating and set a $3.00 price target on shares of Grove Collaborative in a research report on Tuesday, May 7th.
Read Our Latest Stock Analysis on GROV
Grove Collaborative Price Performance
Grove Collaborative (NYSE:GROV – Get Free Report) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.02) earnings per share for the quarter. Grove Collaborative had a negative return on equity of 228.87% and a negative net margin of 13.91%. The company had revenue of $53.55 million for the quarter, compared to analyst estimates of $53.40 million.
Hedge Funds Weigh In On Grove Collaborative
An institutional investor recently raised its position in Grove Collaborative stock. SVB Wealth LLC boosted its holdings in Grove Collaborative Holdings, Inc. (NYSE:GROV – Free Report) by 100.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,340 shares of the company’s stock after purchasing an additional 15,170 shares during the quarter. SVB Wealth LLC owned approximately 0.08% of Grove Collaborative worth $54,000 at the end of the most recent quarter. 91.64% of the stock is owned by institutional investors and hedge funds.
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.
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