GrowGeneration (NASDAQ:GRWG) Stock Price Up 2.7% – Here’s Why

GrowGeneration Corp. (NASDAQ:GRWG)’s stock price rose 2.7% during mid-day trading on Wednesday . The stock traded as high as $1.5350 and last traded at $1.52. 260,785 shares changed hands during trading, a decline of 26% from the average session volume of 353,443 shares. The stock had previously closed at $1.48.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GRWG shares. Zacks Research raised GrowGeneration to a “hold” rating in a research note on Thursday, March 26th. Weiss Ratings upgraded GrowGeneration from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Finally, Alliance Global Partners reiterated a “neutral” rating on shares of GrowGeneration in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, GrowGeneration has a consensus rating of “Reduce”.

GrowGeneration Price Performance

The business’s 50 day simple moving average is $1.53 and its 200-day simple moving average is $1.38. The stock has a market capitalization of $88.33 million, a P/E ratio of -4.59 and a beta of 2.50.

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

Insiders Place Their Bets

In related news, CEO Darren Lampert bought 64,098 shares of GrowGeneration stock in a transaction on Monday, May 18th. The shares were purchased at an average price of $1.55 per share, for a total transaction of $99,351.90. Following the completion of the acquisition, the chief executive officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.06% of the company’s stock.

Institutional Trading of GrowGeneration

Institutional investors and hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP bought a new position in GrowGeneration during the 2nd quarter worth approximately $26,000. AQR Capital Management LLC bought a new stake in GrowGeneration in the first quarter valued at approximately $27,000. Scientech Research LLC acquired a new stake in GrowGeneration in the third quarter worth $37,000. Janney Montgomery Scott LLC bought a new position in shares of GrowGeneration during the fourth quarter worth $42,000. Finally, Virtu Financial LLC bought a new position in shares of GrowGeneration during the fourth quarter worth $43,000. 36.02% of the stock is owned by institutional investors.

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.