GrowGeneration (NASDAQ:GRWG) Raised to Hold at Zacks Research

GrowGeneration (NASDAQ:GRWG) was upgraded by analysts at Zacks Research to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of GrowGeneration in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $2.50.

GrowGeneration Stock Down 3.6%

GrowGeneration stock opened at $1.07 on Thursday. GrowGeneration has a 52 week low of $0.82 and a 52 week high of $2.40. The company’s 50 day moving average price is $1.19 and its two-hundred day moving average price is $1.48. The stock has a market cap of $64.30 million, a P/E ratio of -2.68 and a beta of 2.42.

GrowGeneration (NASDAQ:GRWG) last released its earnings results on Thursday, March 19th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.05). The business had revenue of $37.82 million during the quarter, compared to the consensus estimate of $40.02 million. GrowGeneration had a negative net margin of 14.87% and a negative return on equity of 22.90%. On average, equities analysts anticipate that GrowGeneration will post -0.58 EPS for the current year.

Institutional Inflows and Outflows

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

About GrowGeneration

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.