GrowGeneration (NASDAQ:GRWG) Trading Up 2.7% – Should You Buy?

GrowGeneration Corp. (NASDAQ:GRWG) shot up 2.7% during trading on Wednesday . The company traded as high as $1.5350 and last traded at $1.52. Approximately 260,785 shares changed hands during trading, a decline of 26% from the average session volume of 353,443 shares. The stock had previously closed at $1.48.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GRWG shares. Alliance Global Partners reaffirmed a “neutral” rating on shares of GrowGeneration in a research note on Wednesday, May 13th. Weiss Ratings raised shares of GrowGeneration from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Finally, Zacks Research raised GrowGeneration to a “hold” rating in a research report on Thursday, March 26th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, GrowGeneration presently has an average rating of “Reduce”.

GrowGeneration Trading Up 2.7%

The firm has a fifty day simple moving average of $1.52 and a 200 day simple moving average of $1.38. The stock has a market cap of $91.34 million, a price-to-earnings ratio of -4.75 and a beta of 2.50.

GrowGeneration (NASDAQ:GRWG) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. GrowGeneration had a negative net margin of 11.91% and a negative return on equity of 19.50%. The company had revenue of $38.39 million during the quarter, compared to analysts’ expectations of $36.45 million. On average, equities analysts expect that GrowGeneration Corp. will post -0.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Darren Lampert purchased 64,098 shares of the stock in a transaction on Monday, May 18th. The shares were purchased at an average cost of $1.55 per share, for a total transaction of $99,351.90. Following the completion of the transaction, the chief executive officer directly owned 1,765,800 shares of the company’s stock, valued at approximately $2,736,990. The trade was a 3.77% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On GrowGeneration

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in GrowGeneration by 36.7% during the 4th quarter. Bank of America Corp DE now owns 60,104 shares of the company’s stock worth $102,000 after buying an additional 16,132 shares in the last quarter. Scientech Research LLC acquired a new stake in shares of GrowGeneration in the 3rd quarter valued at $37,000. AQR Capital Management LLC bought a new stake in shares of GrowGeneration during the first quarter worth $27,000. Janney Montgomery Scott LLC acquired a new position in shares of GrowGeneration during the fourth quarter valued at $42,000. Finally, Engineers Gate Manager LP acquired a new position in shares of GrowGeneration during the second quarter valued at $26,000. Institutional investors and hedge funds own 36.02% of the company’s stock.

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.