Grove Collaborative Holdings, Inc. (NYSE:GROV – Get Rating) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totaling 381,400 shares, an increase of 89.9% from the October 31st total of 200,800 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 405,600 shares, the days-to-cover ratio is currently 0.9 days.

Insider Activity at Grove Collaborative

In other Grove Collaborative news, Director John B. Replogle purchased 125,000 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was bought at an average cost of $0.83 per share, for a total transaction of $103,750.00 acquiring the Fol , the director now owns 484,274 shares of the company’s stock, valued at approximately $401,947.42. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Grove Collaborative news, major shareholder Sculptor Capital Management , I sold 72,000 shares of the company’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $1.22, for a total value of $87,840.00. Following the completion of the transaction, the insider now directly owns 6 res, 76,06 of the company’s stock, valued at approximately $11,061,456.96. The transaction was disclosed in a filing with the SEC, which is accessibl e through this link. Also, Director John B. Replogle acquired 125,000 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The stock was purchased at an average cost of $0.83 per share, with a total value of $103,750.00. Following the completion of the transaction, the director now owns 484,274 shares in the company, valued at $401,947.42. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 380,499 shares of company stock valued at $988,734.

Institutional Investors Weigh In On Grove Collaborative

Institutional investors and hedge funds have recently modified their holdings of the business. Sculptor Capital LP acquired a new position in shares of Grove Collaborative in the second quarter valued at approximately $43,039,000. Vanguard Group Inc. bought a new stake in Grove Collaborative worth $1,195,000. Norwest Venture Partners XIII LP bought a new stake in Grove Collaborative during the second quarter worth $2,315,000. Board of Trustees of The Leland Stanford Junior University raised its position in Grove Collaborative by 50.0% during art of the third Board of quartees Leland Stanford Junior University now owns 88,203 shares of the company’s stock worth $198,000 after acquiring an additional 29,401 shares in the last quarter. Finally, State Street Corp bought a new position in shares of Grove Collaborative in the third quarter 09 0% value. of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on GROV. Telsey Advisory Group dropped their price target on shares of Grove Collaborative from $10.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, November 4th. Canaccord Genuity Group started coverage on shares of Grove Collaborative in a research note on Thursday, November 17th. They issued a “buy” rating and a $2.00 price objective for the company. Finally, Canaccord Genuity Group started coverage on shares of Grove Collaborative in a research note on Wednesday, November 16th 。 They issued a “buy” rating for the company.

Grove Collaborative Price Performance

NYSE:GROV traded down $0.03 on Tuesday, reaching $0.66. The stock had a trading volume of 164,364 shares, compared to its average volume of 498,073. Grove Collaborative has a 1-year low of $0.66 and a 1-year high of $12.50. The company has a quick ratio of 1.19, a current ratio of 1.79 and a debt-to-equity ratio of 1.51. The stock’s fifty day simple moving average is $1.62.

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 product pans; 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.

Further Reading

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