GrowGeneration Corp. (NASDAQ:GRWG – Get Free Report) traded down 1.4% during mid-day trading on Wednesday . The company traded as low as $1.38 and last traded at $1.38. 171,605 shares changed hands during trading, a decline of 28% from the average session volume of 237,101 shares. The stock had previously closed at $1.40.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on GRWG. Zacks Research raised GrowGeneration to a “hold” rating in a research report on Thursday, March 26th. Alliance Global Partners reaffirmed a “neutral” rating on shares of GrowGeneration in a research report on Wednesday, May 13th. Finally, Weiss Ratings raised shares of GrowGeneration from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, GrowGeneration currently has a consensus rating of “Reduce”.
View Our Latest Stock Report on GrowGeneration
GrowGeneration Price Performance
GrowGeneration (NASDAQ:GRWG – Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $38.39 million during the quarter, compared to analyst estimates of $36.45 million. GrowGeneration had a negative net margin of 11.91% and a negative return on equity of 19.50%. Equities analysts anticipate that GrowGeneration Corp. will post -0.22 earnings per share for the current fiscal year.
Insider Transactions at GrowGeneration
In other news, CEO Darren Lampert purchased 64,098 shares of the company’s stock in a transaction on Monday, May 18th. The shares were acquired at an average price of $1.55 per share, for a total transaction of $99,351.90. Following the purchase, the chief executive officer owned 1,765,800 shares in the company, valued at $2,736,990. This trade represents a 3.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.06% of the stock is owned by company insiders.
Institutional Trading of GrowGeneration
Several large investors have recently made changes to their positions in the business. Scientech Research LLC purchased a new position in shares of GrowGeneration during the third quarter worth $37,000. AQR Capital Management LLC purchased a new stake in GrowGeneration in the first quarter valued at $27,000. Janney Montgomery Scott LLC acquired a new stake in GrowGeneration during the 4th quarter worth about $42,000. Engineers Gate Manager LP purchased a new position in shares of GrowGeneration during the 2nd quarter valued at about $26,000. Finally, Virtu Financial LLC acquired a new position in shares of GrowGeneration in the 4th quarter valued at about $43,000. 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.
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