FY2024 EPS Estimates for GrowGeneration Decreased by Analyst

GrowGeneration Corp. (NASDAQ:GRWG) – Investment analysts at Alliance Global Partners cut their FY2024 earnings per share (EPS) estimates for GrowGeneration in a report issued on Wednesday, November 13th. Alliance Global Partners analyst A. Grey now forecasts that the company will post earnings per share of ($0.59) for the year, down from their prior forecast of ($0.47). Alliance Global Partners has a “Neutral” rating and a $2.25 price target on the stock. The consensus estimate for GrowGeneration’s current full-year earnings is ($0.53) per share. Alliance Global Partners also issued estimates for GrowGeneration’s Q4 2024 earnings at ($0.16) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.30) EPS.

A number of other equities research analysts also recently weighed in on the stock. Stifel Nicolaus decreased their price target on shares of GrowGeneration from $2.55 to $2.50 and set a “hold” rating on the stock in a research note on Monday, July 29th. Roth Mkm reduced their price target on shares of GrowGeneration from $2.75 to $2.25 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Finally, Lake Street Capital decreased their price target on GrowGeneration from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, GrowGeneration has an average rating of “Hold” and a consensus price target of $2.75.

GrowGeneration Trading Down 5.6 %

Shares of GRWG stock opened at $1.68 on Monday. The stock has a 50 day moving average of $2.03 and a two-hundred day moving average of $2.23. The company has a market capitalization of $99.52 million, a P/E ratio of -1.93 and a beta of 3.14. GrowGeneration has a 12 month low of $1.55 and a 12 month high of $3.38.

Insiders Place Their Bets

In other GrowGeneration news, Director Eula L. Adams bought 25,000 shares of GrowGeneration stock in a transaction dated Tuesday, August 27th. The shares were bought at an average price of $2.02 per share, with a total value of $50,500.00. Following the purchase, the director now owns 25,000 shares of the company’s stock, valued at $50,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 7.07% of the company’s stock.

Institutional Investors Weigh In On GrowGeneration

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC acquired a new stake in GrowGeneration during the 1st quarter worth $5,934,000. Vanguard Group Inc. grew its stake in shares of GrowGeneration by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,992,591 shares of the company’s stock worth $8,559,000 after purchasing an additional 21,306 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in GrowGeneration by 47.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 69,104 shares of the company’s stock valued at $198,000 after purchasing an additional 22,269 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in GrowGeneration by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 194,974 shares of the company’s stock valued at $419,000 after buying an additional 11,742 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in GrowGeneration by 3.2% in 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 period. 36.02% of the stock is owned by institutional investors.

About GrowGeneration

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.