GrowGeneration (NASDAQ:GRWG) Shares Down 5.1%

GrowGeneration Corp. (NASDAQ:GRWG)’s stock price fell 5.1% during mid-day trading on Friday . The stock traded as low as $2.01 and last traded at $2.04. 709,299 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 885,505 shares. The stock had previously closed at $2.15.

Analyst Upgrades and Downgrades

GRWG has been the subject of a number of research analyst reports. Lake Street Capital decreased their target price on GrowGeneration from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Stifel Nicolaus decreased their price objective on GrowGeneration from $2.55 to $2.50 and set a “hold” rating for the company in a report on Monday, July 29th. Alliance Global Partners dropped their target price on shares of GrowGeneration from $2.75 to $2.25 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Roth Mkm reduced their price target on shares of GrowGeneration from $2.75 to $2.25 and set a “neutral” rating for the company in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, GrowGeneration currently has a consensus rating of “Hold” and a consensus price target of $2.75.

GrowGeneration Trading Down 5.1 %

The stock has a market capitalization of $123.85 million, a P/E ratio of -2.58 and a beta of 3.13. The company has a 50-day moving average price of $2.14 and a 200 day moving average price of $2.34.

GrowGeneration (NASDAQ:GRWG) last announced its earnings results on Thursday, August 8th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). GrowGeneration had a negative return on equity of 19.43% and a negative net margin of 23.91%. The firm had revenue of $53.54 million during the quarter, compared to the consensus estimate of $53.00 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. As a group, research analysts expect that GrowGeneration Corp. will post -0.43 earnings per share for the current year.

Insider Activity at GrowGeneration

In other news, Director Eula L. Adams purchased 25,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were acquired at an average cost of $2.02 per share, with a total value of $50,500.00. Following the completion of the acquisition, the director now owns 25,000 shares of the company’s stock, valued at $50,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Stephen Aiello acquired 51,084 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average price of $1.91 per share, for a total transaction of $97,570.44. Following the completion of the acquisition, the director now directly owns 446,061 shares in the company, valued at approximately $851,976.51. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Eula L. Adams acquired 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average cost of $2.02 per share, with a total value of $50,500.00. Following the completion of the transaction, the director now directly owns 25,000 shares in the company, valued at $50,500. The disclosure for this purchase can be found here. Insiders bought 246,685 shares of company stock valued at $468,800 over the last 90 days. Insiders own 7.07% of the company’s stock.

Institutional Trading of GrowGeneration

Several large investors have recently bought and sold shares of GRWG. Dimensional Fund Advisors LP grew its holdings in shares of GrowGeneration by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,411,087 shares of the company’s stock valued at $3,034,000 after buying an additional 43,701 shares during the last quarter. American Century Companies Inc. lifted its position in GrowGeneration by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 84,823 shares of the company’s stock worth $182,000 after acquiring an additional 12,197 shares during the period. Bank of New York Mellon Corp grew its stake in GrowGeneration by 6.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 194,974 shares of the company’s stock valued at $419,000 after purchasing an additional 11,742 shares during the last quarter. Baader Bank Aktiengesellschaft increased its holdings in shares of GrowGeneration by 44.0% in the second quarter. Baader Bank Aktiengesellschaft now owns 180,000 shares of the company’s stock valued at $387,000 after purchasing an additional 55,000 shares during the period. Finally, Tidal Investments LLC acquired a new position in shares of GrowGeneration in the first quarter valued at about $5,934,000. Hedge funds and other institutional investors own 36.02% of the company’s stock.

GrowGeneration Company Profile

GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. The company engages in the marketing and distribution of nutrients, additives, growing media, lighting, and environmental control systems, as well as other indoor and outdoor growing products.