GrowGeneration (NASDAQ:GRWG) Shares Up 5.4% – Time to Buy?

GrowGeneration Corp. (NASDAQ:GRWG) shares shot up 5.4% on Monday . The stock traded as high as $1.18 and last traded at $1.18. 386,064 shares were traded during mid-day trading, an increase of 46% from the average session volume of 263,817 shares. The stock had previously closed at $1.12.

Analyst Ratings Changes

Several analysts have recently issued reports on GRWG shares. Zacks Research raised shares of GrowGeneration to a “hold” rating in a research note on Thursday, March 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of GrowGeneration in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, GrowGeneration has a consensus rating of “Hold” and an average price target of $2.50.

GrowGeneration Trading Up 15.9%

The company’s 50 day moving average price is $1.11 and its 200-day moving average price is $1.40. The company has a market capitalization of $78.72 million, a PE ratio of -3.28 and a beta of 2.32.

GrowGeneration (NASDAQ:GRWG) last announced its quarterly earnings data 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). GrowGeneration had a negative net margin of 14.87% and a negative return on equity of 22.90%. The company had revenue of $37.82 million for the quarter, compared to analysts’ expectations of $40.02 million. As a group, analysts predict that GrowGeneration Corp. will post -0.23 earnings per share for the current year.

Institutional Trading of GrowGeneration

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp boosted its position in GrowGeneration by 13.2% during the 4th quarter. State Street Corp now owns 263,240 shares of the company’s stock worth $395,000 after purchasing an additional 30,600 shares during the period. Jane Street Group LLC boosted its position in GrowGeneration by 1,193.2% during the 2nd quarter. Jane Street Group LLC now owns 792,229 shares of the company’s stock worth $741,000 after purchasing an additional 730,968 shares during the period. AWM Investment Company Inc. boosted its position in GrowGeneration by 8.7% during the 4th quarter. AWM Investment Company Inc. now owns 3,380,784 shares of the company’s stock worth $5,071,000 after purchasing an additional 271,249 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in GrowGeneration by 55.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 519,681 shares of the company’s stock worth $972,000 after purchasing an additional 184,626 shares during the period. Finally, Prentice Capital Management LP boosted its position in GrowGeneration by 65.7% during the 4th quarter. Prentice Capital Management LP now owns 274,097 shares of the company’s stock worth $411,000 after purchasing an additional 108,711 shares during the period. 36.02% of the stock is owned by hedge funds and other 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.