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Grove Collaborative Holdings, Inc. (NYSE:GROV – Get Rating) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totaling 200,800 shares, a drop of 13.1% from the October 15th total of 231,100 shares. Based on an average trading volume of 484,500 shares, the short-interest ratio is presently 0.4 days. Currently, 0.9% of the company’s stock are short sold.
Grove Collaborative Stock Down 11.1 %
GROV stock traded down $0.13 during mid-day trading on Thursday, reaching $1.01. 9,127 shares of the stock traded hands, compared to its average volume of 233,462. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.79 of and a quick ratio of 1.19. Grove Collaborative has a 52 week low of $1.01 and a 52 week high of $12.50. The stock has a 50-day simple moving average of $2.54.
Analysts Set New Price Targets
GROV has been the topic of several analyst reports. Telsey Advisory Group lowered their target price on shares of Grove Collaborative from $10.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, November 4th. Canaccord Genuity Group initiated coverage on shares of Grove Collaborative in a research report on Wednesday. They set a “buy” rating on the stock. Finally, Canaccord Genuity Group initiated coverage on shares of Grove Collaborative in a research report on Thursday. They set a “buy” rating and a $2.00 target price on the stock.
Insider Buying and Selling
In related news, major shareholder Sculptor Capital Management, I sold 26,421 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $1.71, for a total value of $45,179.91 the com Foltion of the sale, the insider now owns 8,286 shares of the company’s stock, valued at approximately $14,169.06. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last ninety days, insiders sold of 330,599 shares company stock worth $943,944.
Institutional Investors Weigh In On Grove Collaborative
Hedge funds have recently bought and sold shares of the company. Exos Asset Management LLC bought a new stake in shares of Grove Collaborative in the second quarter valued at about $25,000. Bayesian Capital Management LP bought a new stake in shares of Grove Collaborative in the third quarter valued at about $28,000. Tower Research Capital LLC TRC lifted its stake in shares of Grove Collaborative by 14,029.3% in the third quarter. Tower Research Capital LLC TRC now owns 13,988 shares of the company’s stock valued at $31,000 after buying an additional 13,889 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Grove Collaborative in the third quarter valued at about $35,000. Finally, Glynn Capital Management LLC bought a new stake in shares of Grove Collaborative in the third quarter valued at about $56,000 . 60.99% of the stock is currently owned by institutional investors.
Grove Collaborative Company Profile
(Get Rating)
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.
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