Grove Collaborative (NYSE:GROV) Stock Crosses Above 50 Day Moving Average – What’s Next?

Grove Collaborative Holdings, Inc. (NYSE:GROV) crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $1.05 and traded as high as $1.12. Grove Collaborative shares last traded at $1.0650, with a volume of 28,410 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GROV. Weiss Ratings lowered shares of Grove Collaborative from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, October 29th. Zacks Research upgraded shares of Grove Collaborative to a “hold” rating in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Grove Collaborative has a consensus rating of “Reduce”.

Grove Collaborative Price Performance

The firm has a fifty day simple moving average of $1.05 and a two-hundred day simple moving average of $1.19. The firm has a market capitalization of $45.48 million, a P/E ratio of -8.87 and a beta of 1.05.

Grove Collaborative (NYSE:GROV) last issued its earnings results on Tuesday, November 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The firm had revenue of $36.82 million during the quarter, compared to the consensus estimate of $37.35 million. On average, research analysts anticipate that Grove Collaborative Holdings, Inc. will post -0.16 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jason Karp acquired 55,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was bought at an average price of $1.03 per share, with a total value of $56,650.00. Following the acquisition, the director owned 575,000 shares in the company, valued at $592,250. The trade was a 10.58% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders bought 95,825 shares of company stock valued at $99,708. Company insiders own 30.30% of the company’s stock.

Grove Collaborative Company Profile

Grove Collaborative Holdings, Inc. operates an online marketplace focused on natural and environmentally conscious household, personal care and beauty products. The company offers cleaning supplies, laundry products, paper goods, personal care items, cosmetics, wellness products and pet-care essentials through its digital platform. Grove sells products under its own brands, including Grove Co., as well as products from selected third-party brands. Its platform is designed to support recurring purchases and convenient home delivery, while emphasizing ingredient transparency, sustainability and reduced packaging impact.