Grove Collaborative Holdings, Inc. (NYSE:GROV) Short Interest Up 7.1% in September

Grove Collaborative Holdings, Inc. (NYSE:GROV) saw a large increase in short interest in September. As of September 30th, there was short interest totalling 1,200,000 shares, an increase of 7.1% from the September 15th total of 1,120,000 shares. Based on an average daily volume of 90,100 shares, the short-interest ratio is presently 13.3 days. Currently, 7.0% of the shares of the stock are short sold.

Institutional Trading of Grove Collaborative

An institutional investor recently bought a new position in Grove Collaborative stock. Renaissance Technologies LLC purchased a new stake in Grove Collaborative Holdings, Inc. (NYSE:GROV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 21,700 shares of the company’s stock, valued at approximately $38,000. Renaissance Technologies LLC owned 0.06% of Grove Collaborative as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 91.64% of the company’s stock.

Grove Collaborative Trading Up 1.6 %

Grove Collaborative stock traded up $0.02 during trading hours on Thursday, hitting $1.35. The stock had a trading volume of 54,552 shares, compared to its average volume of 80,402. The business’s 50 day simple moving average is $1.33 and its 200-day simple moving average is $1.50. Grove Collaborative has a one year low of $1.19 and a one year high of $2.49. The stock has a market cap of $52.63 million, a price-to-earnings ratio of -1.38 and a beta of 0.98. The company has a quick ratio of 2.92, a current ratio of 3.88 and a debt-to-equity ratio of 107.00.

Grove Collaborative (NYSE:GROV) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter. Grove Collaborative had a negative net margin of 14.41% and a negative return on equity of 372.20%. The business had revenue of $52.10 million during the quarter, compared to the consensus estimate of $52.80 million.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group decreased their target price on shares of Grove Collaborative from $3.00 to $2.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th.

About Grove Collaborative

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.