GrowGeneration (NASDAQ:GRWG) Stock Price Down 5.1%

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GRWG shares. Stifel Nicolaus reduced their price target on GrowGeneration from $2.55 to $2.50 and set a “hold” rating for the company in a research report on Monday, July 29th. Alliance Global Partners reduced their price target on GrowGeneration from $2.75 to $2.25 and set a “neutral” rating for the company in a research report on Friday, August 9th. Roth Mkm reduced their price target on GrowGeneration from $2.75 to $2.25 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Lake Street Capital reduced their price target on GrowGeneration from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.75.

GrowGeneration Price Performance

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

GrowGeneration (NASDAQ:GRWG) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $53.00 million. During the same period last year, the firm earned ($0.09) EPS. As a group, research analysts expect that GrowGeneration Corp. will post -0.43 earnings per share for the current year.

Insider Activity

In related news, Director Eula L. Adams bought 25,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was 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 in the company, valued at approximately $50,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GrowGeneration news, President Michael Salaman purchased 85,301 shares of GrowGeneration 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 in the company, valued at $2,679,706.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eula L. Adams purchased 25,000 shares of GrowGeneration stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average price of $2.02 per share, for a total transaction of $50,500.00. Following the acquisition, the director now owns 25,000 shares in the company, valued at $50,500. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 246,685 shares of company stock valued at $468,800. Insiders own 7.07% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GRWG. Price T Rowe Associates Inc. MD grew its holdings in shares of GrowGeneration by 47.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,104 shares of the company’s stock worth $198,000 after acquiring an additional 22,269 shares during the period. Symmetry Peak Management LLC purchased a new position in shares of GrowGeneration during the 4th quarter worth approximately $201,000. American Century Companies Inc. grew its holdings in shares of 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. Baader Bank Aktiengesellschaft grew its holdings in shares of GrowGeneration by 44.0% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 180,000 shares of the company’s stock worth $387,000 after acquiring an additional 55,000 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of GrowGeneration by 6.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 194,974 shares of the company’s stock worth $419,000 after acquiring an additional 11,742 shares during the period. 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.