FY2024 EPS Estimate for GrowGeneration Decreased by Analyst

GrowGeneration Corp. (NASDAQ:GRWG) – Investment analysts at Alliance Global Partners dropped their FY2024 earnings per share (EPS) estimates for GrowGeneration in a research note issued to investors 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 estimate of ($0.47). Alliance Global Partners currently has a “Neutral” rating and a $2.25 price objective 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 research firms have also recently issued reports on GRWG. Lake Street Capital cut their target price on shares of GrowGeneration from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Stifel Nicolaus reduced their price objective on GrowGeneration from $2.55 to $2.50 and set a “hold” rating on the stock in a research note on Monday, July 29th. Finally, Roth Mkm lowered their target price on GrowGeneration from $2.75 to $2.25 and set a “neutral” rating for the company in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2.75.

GrowGeneration Stock Up 4.2 %

NASDAQ:GRWG opened at $1.75 on Monday. The firm has a market cap of $103.68 million, a PE ratio of -2.01 and a beta of 3.14. GrowGeneration has a 12 month low of $1.55 and a 12 month high of $3.38. The company’s 50-day moving average price is $2.02 and its two-hundred day moving average price is $2.23.

Hedge Funds Weigh In On GrowGeneration

Several large investors have recently bought and sold shares of GRWG. SG Americas Securities LLC bought a new stake in shares of GrowGeneration during the 3rd quarter valued at $42,000. 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. Barclays PLC lifted its stake in GrowGeneration by 274.2% in the third quarter. Barclays PLC now owns 75,452 shares of the company’s stock valued at $161,000 after buying an additional 55,290 shares during the period. American Century Companies Inc. lifted its stake in GrowGeneration by 16.8% in the second quarter. American Century Companies Inc. now owns 84,823 shares of the company’s stock valued at $182,000 after buying an additional 12,197 shares during the period. Finally, Empowered Funds LLC boosted its holdings in GrowGeneration by 5.3% during the third quarter. Empowered Funds LLC now owns 112,180 shares of the company’s stock worth $239,000 after buying an additional 5,628 shares during the last quarter. 36.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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. Insiders own 7.07% 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.