Grove Collaborative Holdings Inc. [GROV] stock Initiated by Canaccord Genuity analyst, price target now $2

Grove Collaborative Holdings Inc. [NYSE: GROV] gained 21.97% or 0.09 points to close at $0.49 with a heavy trading volume of 4194395 shares. The company report on February 14, 2023 that Grove Co. Continues Retail Expansion with Amazon and Walmart Debut;
Grove Collaborative Personal Care and Skincare Brands Reach Milestone of $1 Million Amazon Sales.

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Grove Collaborative Holdings, Inc. (NYSE: GROV) (“Grove” or “the Company”), a leading sustainable consumer products company and Certified B Corp™, today announced the official launch of its flagship home care brand, Grove Co., on Amazon, and at select Walmart stores nationwide and The Company also announced its plastic-free personal care brand Peach not Plastic and vegan skincare brand Superbloom reached $1 million in sales on Amazon.

This press release features multimedia. View the full release here:

It opened the trading session at $0.41, the shares rose to $0.517 and dropped to $0.3911, the range by which the price of stock traded the whole day. The daily chart for GROV points out that the company has recorded -90.59% loss over the past six months. However, it is still -172.22% lower than its most recent low trading price.

If we look at the average trading volume of 1.99M shares, GROV reached to a volume of 4194395 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Grove Collaborative Holdings Inc. [GROV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GROV shares is $3.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GROV stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for Grove Collaborative Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 17, 2022. While these analysts kept the previous recommendation, Telsey Advisory Group raised their target price to Outperform. The new note on the price target was released on June 27, 2022, representing the official price target for Grove Collaborative Holdings Inc. stock.

The Average True Range (ATR) for Grove Collaborative Holdings Inc. is set at 0.07, with the Price to Sales ratio for GROV stock in the period of the last 12 months amounting to 0.24. The Price to Book ratio for the last quarter was 3.26, with the Price to Cash per share for the same quarter was set at 0.63.

Trading performance analysis for GROV stock

Grove Collaborative Holdings Inc. [GROV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.05. With this latest performance, GROV shares dropped by -11.07% in over the last four-week period, additionally sinking by -90.59% over the last 6 months – not to mention a drop of -95.06% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GROV stock in for the last two-week period is set at 52.95, with the RSI for the last a single of trading hit 58.44, and the three-weeks RSI is set at 47.82 for Grove Collaborative Holdings Inc. [GROV]. The present Moving Average for the last 50 days of trading for this stock 0.4409, while it was recorded at 0.4316 for the last single week of trading, and 3.5777 for the last 200 days.

Grove Collaborative Holdings Inc. [GROV]: A deeper dive into fundamental analysis

Grove Collaborative Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.80.

An analysis of insider ownership at Grove Collaborative Holdings Inc. [GROV]

There are presently around $20 million, or 25.90% of GROV stock, in the hands of institutional investors. The top three institutional holders of GROV stocks are: NVP ASSOCIATES, LLC with ownership of 14,717,612, which is approximately New of the company’s market cap and around 3.60% of the total institutional ownership; SCULPTOR CAPITAL LP, holding 8,556,724 shares of the stock with an approximate value of $4.18 million in GROV stocks shares; and GENERAL ATLANTIC, L.P., currently with $2.29 million in GROV stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Grove Collaborative Holdings Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 30 institutional holders increased their position in Grove Collaborative Holdings Inc. [NYSE:GROV] by around 25,294,628 shares. Additionally, 14 investors decreased positions by around 3,160,862 shares, while 3 investors held positions by with 11,609,954 shares. The mentioned changes placed institutional holdings at 40,065,444 shares, according to the latest SEC report filing. GROV stock had 18 new institutional investments in for a total of 21,387,333 shares, while 8 institutional investors sold positions of 2,169,812 shares during the same period.


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