GrowGeneration Corp (OTCMKTS:GRWG) major shareholder Merida Capital Partners, Lp sold 36,032 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $7.16, for a total value of $257,989.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
OTCMKTS:GRWG opened at $7.00 on Thursday. The company has a market cap of $270.99 million, a price-to-earnings ratio of -33.33 and a beta of 1.90. GrowGeneration Corp has a fifty-two week low of $2.62 and a fifty-two week high of $7.82. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 4.20. The stock has a fifty day moving average price of $6.28 and a 200-day moving average price of $4.93.
GrowGeneration (OTCMKTS:GRWG) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.09). GrowGeneration had a positive return on equity of 5.23% and a negative net margin of 0.10%. The firm had revenue of $32.98 million for the quarter, compared to analyst estimates of $31.59 million. Research analysts predict that GrowGeneration Corp will post 0.15 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on GRWG shares. Craig Hallum began coverage on GrowGeneration in a research note on Tuesday, March 10th. They set a “buy” rating and a $7.00 target price on the stock. Lake Street Capital lifted their target price on GrowGeneration from $5.50 to $7.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Benchmark assumed coverage on shares of GrowGeneration in a research note on Wednesday, May 20th. They issued a “buy” rating and a $8.00 price target on the stock. Six analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $7.42.
Several hedge funds have recently bought and sold shares of GRWG. Citigroup Inc. raised its holdings in GrowGeneration by 1,349.8% in the 1st quarter. Citigroup Inc. now owns 9,424 shares of the company’s stock valued at $36,000 after buying an additional 8,774 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in GrowGeneration in the 1st quarter valued at approximately $67,000. Penserra Capital Management LLC bought a new position in shares of GrowGeneration during the fourth quarter valued at $112,000. Formidable Asset Management LLC acquired a new position in shares of GrowGeneration during the fourth quarter worth $113,000. Finally, Morgan Stanley lifted its holdings in shares of GrowGeneration by 563.7% during the first quarter. Morgan Stanley now owns 29,865 shares of the company’s stock worth $114,000 after purchasing an additional 25,365 shares during the period. 1.86% of the stock is owned by hedge funds and other institutional investors.
GrowGeneration Company Profile
GrowGeneration Corp., through its subsidiaries, operates retail hydroponic stores. It offers farming soil, hydroponic equipment, lighting, plant nutrients, and various other products. The company serves home growers of organic vegetables and fruits, do-it yourselfers, and growers in the cannabis related markets.
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