GrowGeneration (NASDAQ:GRWG) Upgraded at Alliance Global Partners

Alliance Global Partners upgraded shares of GrowGeneration (NASDAQ:GRWG) from a neutral rating to a buy rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has $2.50 price target on the stock.

Separately, Weiss Ratings lowered GrowGeneration from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 7th. One investment 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.50.

GrowGeneration Stock Performance

GRWG opened at $1.77 on Wednesday. The business’s fifty day moving average is $1.49 and its 200-day moving average is $1.35. The firm has a market cap of $104.29 million, a P/E ratio of -6.56 and a beta of 2.51. GrowGeneration has a 52-week low of $1.00 and a 52-week high of $2.40.

GrowGeneration (NASDAQ:GRWG) last released its earnings results on Tuesday, August 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. GrowGeneration had a negative return on equity of 17.44% and a negative net margin of 10.07%.The firm had revenue of $43.22 million for the quarter, compared to analysts’ expectations of $42.75 million. On average, research analysts predict that GrowGeneration will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at GrowGeneration

In other GrowGeneration news, CEO Darren Lampert acquired 64,098 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was bought at an average price of $1.55 per share, with a total value of $99,351.90. Following the completion of the acquisition, the chief executive officer owned 1,765,800 shares of the company’s stock, valued at $2,736,990. This trade represents a 3.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 8.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GrowGeneration

Large investors have recently bought and sold shares of the stock. AWM Investment Company Inc. purchased a new stake in GrowGeneration in the 2nd quarter worth approximately $4,586,000. Monaco Asset Management SAM purchased a new position in GrowGeneration during the second quarter valued at $1,775,000. BlackRock Inc. purchased a new position in GrowGeneration during the second quarter valued at $1,717,000. Jane Street Group LLC boosted its holdings in GrowGeneration by 1,193.2% in the second quarter. Jane Street Group LLC now owns 792,229 shares of the company’s stock worth $741,000 after acquiring an additional 730,968 shares in the last quarter. Finally, Primecap Management Co. CA purchased a new position in GrowGeneration in the second quarter worth about $558,000. 36.02% of the stock is owned by hedge funds and other 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.