GrowGeneration Corp. (NASDAQ:GRWG) Short Interest Down 5.9% in September

by · The Markets Daily

GrowGeneration Corp. (NASDAQ:GRWG – Get Free Report) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 4,180,000 shares, a decrease of 5.9% from the September 15th total of 4,440,000 shares. Based on an average daily volume of 526,300 shares, the short-interest ratio is presently 7.9 days. Currently, 7.7% of the company’s stock are short sold.

GrowGeneration Stock Performance

Shares of NASDAQ GRWG traded up $0.02 during trading hours on Wednesday, hitting $2.06. 367,373 shares of the stock were exchanged, compared to its average volume of 840,905. GrowGeneration has a 1-year low of $1.77 and a 1-year high of $3.38. The company has a market cap of $125.06 million, a PE ratio of -2.61 and a beta of 3.14. The company’s fifty day simple moving average is $2.04 and its two-hundred day simple moving average is $2.31.

GrowGeneration (NASDAQ:GRWG – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). GrowGeneration had a negative net margin of 23.91% and a negative return on equity of 19.43%. The business 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 earned ($0.09) EPS. As a group, sell-side analysts expect that GrowGeneration will post -0.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Read Our Latest Analysis on GRWG

Insider Buying and Selling

In other news, CEO Darren Lampert bought 85,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average price of $1.88 per share, with a total value of $160,364.00. Following the transaction, the chief executive officer now owns 1,518,420 shares in the company, valued at $2,854,629.60. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Darren Lampert acquired 85,300 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $1.88 per share, for a total transaction of $160,364.00. Following the acquisition, the chief executive officer now directly owns 1,518,420 shares of the company’s stock, valued at approximately $2,854,629.60. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael Salaman bought 85,301 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of $1.88 per share, for a total transaction of $160,365.88. Following the acquisition, the president now directly owns 1,425,376 shares of the company’s stock, valued at $2,679,706.88. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 246,685 shares of company stock valued at $468,800. Company insiders own 7.07% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in GrowGeneration by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,992,591 shares of the company’s stock worth $8,559,000 after buying an additional 21,306 shares during the period. Tidal Investments LLC bought a new stake in GrowGeneration in the first quarter valued at approximately $5,934,000. Dimensional Fund Advisors LP increased its position in GrowGeneration by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,411,087 shares of the company’s stock valued at $3,034,000 after purchasing an additional 43,701 shares during the period. AWM Investment Company Inc. raised its holdings in GrowGeneration by 17.8% during the 1st quarter. AWM Investment Company Inc. now owns 1,001,692 shares of the company’s stock worth $2,865,000 after purchasing an additional 151,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of GrowGeneration by 9.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 500,125 shares of the company’s stock worth $1,461,000 after purchasing an additional 42,123 shares during the period. Institutional investors own 36.02% of the company’s stock.

About GrowGeneration

(Get Free Report)

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.

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