GrowGeneration (NASDAQ:GRWG) CEO Purchases $99,351.90 in Stock

GrowGeneration Corp. (NASDAQ:GRWG) CEO Darren Lampert purchased 64,098 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were acquired at an average cost of $1.55 per share, with a total value of $99,351.90. Following the completion of the purchase, the chief executive officer directly owned 1,765,800 shares in the company, valued at approximately $2,736,990. This represents a 3.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

GrowGeneration Stock Up 1.1%

Shares of GRWG opened at $1.76 on Friday. The stock has a market capitalization of $105.76 million, a P/E ratio of -5.50 and a beta of 2.40. GrowGeneration Corp. has a twelve month low of $0.87 and a twelve month high of $2.40. The company has a 50 day moving average of $1.24 and a 200-day moving average of $1.37.

GrowGeneration (NASDAQ:GRWG) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. The company had revenue of $38.39 million during the quarter, compared to analysts’ expectations of $36.45 million. GrowGeneration had a negative net margin of 11.91% and a negative return on equity of 19.50%. On average, sell-side analysts anticipate that GrowGeneration Corp. will post -0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GRWG. Zacks Research raised shares of GrowGeneration to a “hold” rating in a research note on Thursday, March 26th. Alliance Global Partners reaffirmed a “neutral” rating on shares of GrowGeneration in a research note on Wednesday, May 13th. Finally, Weiss Ratings cut shares of GrowGeneration from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 12th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Institutional Investors Weigh In On GrowGeneration

Several large investors have recently made changes to their positions in the stock. AWM Investment Company Inc. boosted its holdings in shares of GrowGeneration by 8.7% in the 4th quarter. AWM Investment Company Inc. now owns 3,380,784 shares of the company’s stock valued at $5,071,000 after buying an additional 271,249 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of GrowGeneration by 34.5% in the 1st quarter. Renaissance Technologies LLC now owns 1,370,610 shares of the company’s stock valued at $1,508,000 after buying an additional 351,277 shares during the last quarter. Monaco Asset Management SAM boosted its holdings in shares of GrowGeneration by 37.3% in the 4th quarter. Monaco Asset Management SAM now owns 1,024,125 shares of the company’s stock valued at $1,536,000 after buying an additional 278,179 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of GrowGeneration by 1,193.2% in the 2nd quarter. Jane Street Group LLC now owns 792,229 shares of the company’s stock valued at $741,000 after buying an additional 730,968 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of GrowGeneration by 55.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 519,681 shares of the company’s stock valued at $972,000 after buying an additional 184,626 shares during the last quarter. Institutional investors and hedge funds own 36.02% of the company’s stock.

GrowGeneration Company Profile

GrowGeneration Corp. is the largest chain of specialty hydroponic and organic garden centers in the United States, serving commercial and home growers of all experience levels. The company offers a broad assortment of cultivation supplies, including high-efficiency LED lighting, climate control systems, irrigation and fertigation equipment, growing media and nutrients. Through its retail outlets and e-commerce platform, GrowGeneration caters to indoor and outdoor horticultural operations, with a particular focus on the rapidly expanding legal cannabis market.

In addition to its product offerings, GrowGeneration provides design, consulting and project management services for turnkey cultivation facilities.