GrowGeneration (NASDAQ:GRWG) Shares Up 38% – What’s Next?

GrowGeneration Corp. (NASDAQ:GRWG) traded up 38% during mid-day trading on Friday . The stock traded as high as $1.97 and last traded at $1.96. 4,463,215 shares traded hands during trading, an increase of 1,591% from the average session volume of 263,986 shares. The stock had previously closed at $1.42.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GRWG. Wall Street Zen raised GrowGeneration from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings restated a “sell (d-)” rating on shares of GrowGeneration in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.50.

GrowGeneration Stock Performance

The firm has a fifty day moving average of $1.61 and a 200-day moving average of $1.42. The stock has a market capitalization of $117.29 million, a price-to-earnings ratio of -2.93 and a beta of 2.41.

GrowGeneration (NASDAQ:GRWG) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. The company had revenue of $47.25 million for the quarter, compared to analyst estimates of $41.56 million. GrowGeneration had a negative net margin of 24.77% and a negative return on equity of 29.82%. On average, analysts predict that GrowGeneration Corp. will post -0.58 EPS for the current year.

Insider Activity

In related news, CEO Darren Lampert sold 56,540 shares of GrowGeneration stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $1.61, for a total value of $91,029.40. Following the completion of the sale, the chief executive officer owned 1,651,702 shares in the company, valued at approximately $2,659,240.22. The trade was a 3.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.62% of the company’s stock.

Institutional Investors Weigh In On GrowGeneration

Hedge funds and other institutional investors have recently modified their holdings of the stock. Scientech Research LLC acquired a new stake in GrowGeneration during the third quarter valued at approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of GrowGeneration by 55.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 519,681 shares of the company’s stock valued at $972,000 after acquiring an additional 184,626 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of GrowGeneration in the 3rd quarter valued at approximately $279,000. Squarepoint Ops LLC raised its position in shares of GrowGeneration by 754.0% during the 3rd quarter. Squarepoint Ops LLC now owns 160,612 shares of the company’s stock valued at $300,000 after acquiring an additional 141,805 shares in the last quarter. Finally, Savvy Advisors Inc. lifted its stake in GrowGeneration by 88.1% during the third quarter. Savvy Advisors Inc. now owns 151,682 shares of the company’s stock worth $284,000 after purchasing an additional 71,030 shares during the last quarter. 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.