GrowGeneration (NASDAQ:GRWG) Shares Break Below 50 Day Moving Average – Time to Sell?

GrowGeneration Corp. (NASDAQ:GRWG) shares passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $1.52 and traded as low as $1.49. GrowGeneration shares last traded at $1.51, with a volume of 209,643 shares changing hands.

Wall Street Analysts Forecast Growth

GRWG has been the subject of several research reports. Weiss Ratings raised GrowGeneration from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Alliance Global Partners raised shares of GrowGeneration from a “neutral” rating to a “buy” rating and set a $2.50 price objective for the company in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.50.

GrowGeneration Trading Down 3.8%

The firm has a market cap of $88.97 million, a price-to-earnings ratio of -5.59 and a beta of 2.66. The stock’s 50 day moving average is $1.52 and its 200 day moving average is $1.41.

GrowGeneration (NASDAQ:GRWG) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $43.22 million for the quarter, compared to analysts’ expectations of $42.75 million. GrowGeneration had a negative net margin of 10.07% and a negative return on equity of 17.44%. On average, equities research analysts predict that GrowGeneration Corp. will post -0.15 EPS for the current year.

Hedge Funds Weigh In On GrowGeneration

Institutional investors and hedge funds have recently made changes to their positions in the company. AWM Investment Company Inc. bought a new position in shares of GrowGeneration during the second quarter worth approximately $4,586,000. Monaco Asset Management SAM acquired a new stake in GrowGeneration during the 2nd quarter worth approximately $1,775,000. BlackRock Inc. acquired a new stake in GrowGeneration during the 2nd quarter worth approximately $1,717,000. Primecap Management Co. CA acquired a new stake in GrowGeneration during the 2nd quarter worth approximately $558,000. Finally, Renaissance Technologies LLC boosted its stake in 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 purchasing an additional 351,277 shares during the period. Institutional investors and hedge funds own 36.02% of the company’s stock.

GrowGeneration Company Profile

GrowGeneration Corp. (NASDAQ:GRWG) is a specialty retailer serving the hydroponic and organic gardening markets. The company sells cultivation supplies and equipment to commercial and home growers through its retail stores and e-commerce platform. Its product offerings include hydroponic systems, growing media, plant nutrients, lighting, irrigation equipment, environmental-control systems, propagation supplies, and other gardening products. GrowGeneration also provides cultivation-related supplies and resources for customers growing a variety of indoor and greenhouse crops.