GrowGeneration Corp. (NASDAQ:GRWG) Sees Large Growth in Short Interest

GrowGeneration Corp. (NASDAQ:GRWG) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 3,830,000 shares, an increase of 12.6% from the February 29th total of 3,400,000 shares. Based on an average daily trading volume, of 992,200 shares, the short-interest ratio is currently 3.9 days. Approximately 6.7% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Oppenheimer lowered GrowGeneration from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 20th.

GrowGeneration Stock Down 1.4 %

GRWG opened at $2.86 on Wednesday. GrowGeneration has a 52 week low of $1.77 and a 52 week high of $5.00. The stock’s fifty day moving average is $2.28 and its two-hundred day moving average is $2.44. The company has a market capitalization of $175.89 million, a P/E ratio of -3.81 and a beta of 3.01.

Institutional Trading of GrowGeneration

Institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors boosted its position in shares of GrowGeneration by 644.4% in the 1st quarter. Captrust Financial Advisors now owns 3,000 shares of the company’s stock worth $28,000 after purchasing an additional 2,597 shares in the last quarter. Koshinski Asset Management Inc. acquired a new stake in GrowGeneration during the 4th quarter worth about $29,000. AdvisorNet Financial Inc lifted its position in GrowGeneration by 96.2% during the 3rd quarter. AdvisorNet Financial Inc now owns 10,196 shares of the company’s stock worth $30,000 after acquiring an additional 5,000 shares during the period. SG Americas Securities LLC acquired a new stake in GrowGeneration during the 4th quarter worth about $31,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in GrowGeneration during the 2nd quarter worth about $36,000. Institutional investors and hedge funds 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.