GrowGeneration (NASDAQ:GRWG) CEO Darren Lampert Purchases 64,098 Shares of Stock

GrowGeneration Corp. (NASDAQ:GRWG) CEO Darren Lampert acquired 64,098 shares of GrowGeneration stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average cost of $1.55 per share, with a total value of $99,351.90. Following the purchase, the chief executive officer owned 1,765,800 shares in the company, valued at $2,736,990. The trade was a 3.77% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

GrowGeneration Trading Up 3.3%

GRWG stock opened at $1.57 on Wednesday. GrowGeneration Corp. has a 1 year low of $0.87 and a 1 year high of $2.40. The company has a fifty day simple moving average of $1.21 and a 200 day simple moving average of $1.37. The firm has a market cap of $94.34 million, a PE ratio of -4.91 and a beta of 2.40.

GrowGeneration (NASDAQ:GRWG) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. GrowGeneration had a negative net margin of 11.91% and a negative return on equity of 19.50%. The business had revenue of $38.39 million during the quarter, compared to analyst estimates of $36.45 million. As a group, analysts forecast that GrowGeneration Corp. will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in GrowGeneration by 36.7% in the 4th quarter. Bank of America Corp DE now owns 60,104 shares of the company’s stock worth $102,000 after acquiring an additional 16,132 shares during the period. Scientech Research LLC bought a new position in shares of GrowGeneration during the 3rd quarter worth about $37,000. AQR Capital Management LLC bought a new position in shares of GrowGeneration during the 1st quarter worth about $27,000. Janney Montgomery Scott LLC bought a new position in shares of GrowGeneration during the 4th quarter worth about $42,000. Finally, Engineers Gate Manager LP bought a new position in shares of GrowGeneration during the 2nd quarter worth about $26,000. Institutional investors own 36.02% of the company’s stock.

Analyst Ratings Changes

GRWG has been the subject of several analyst reports. Weiss Ratings lowered shares of GrowGeneration from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 12th. Alliance Global Partners reiterated a “neutral” rating on shares of GrowGeneration in a report on Wednesday, May 13th. Finally, Zacks Research upgraded shares of GrowGeneration to a “hold” rating in a report on Thursday, March 26th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

About GrowGeneration

GrowGeneration Corp. is the largest chain of specialty hydroponic and organic garden centers in the United States, serving commercial and home growers of all experience levels. The company offers a broad assortment of cultivation supplies, including high-efficiency LED lighting, climate control systems, irrigation and fertigation equipment, growing media and nutrients. Through its retail outlets and e-commerce platform, GrowGeneration caters to indoor and outdoor horticultural operations, with a particular focus on the rapidly expanding legal cannabis market.

In addition to its product offerings, GrowGeneration provides design, consulting and project management services for turnkey cultivation facilities.