GrowGeneration (NASDAQ:GRWG) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

GrowGeneration Corp. (NASDAQ:GRWG) crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $1.52 and traded as low as $1.49. GrowGeneration shares last traded at $1.51, with a volume of 209,643 shares traded.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Alliance Global Partners upgraded shares of GrowGeneration from a “neutral” rating to a “buy” rating and set a $2.50 price objective on the stock in a research report on Wednesday, August 12th. Weiss Ratings raised shares of GrowGeneration from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2.50.

GrowGeneration Stock Performance

The company has a 50-day simple moving average of $1.51 and a 200-day simple moving average of $1.41.

GrowGeneration (NASDAQ:GRWG) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. GrowGeneration had a negative return on equity of 15.26% and a negative net margin of 8.60%. The firm had revenue of $43.22 million for the quarter, compared to the consensus estimate of $42.75 million. As a group, equities research analysts forecast that GrowGeneration Corp. will post -0.15 EPS for the current fiscal year.

Institutional Trading of GrowGeneration

A number of large investors have recently made changes to their positions in the stock. AWM Investment Company Inc. bought a new stake in GrowGeneration during the 2nd quarter valued at about $4,586,000. Renaissance Technologies LLC boosted its position in GrowGeneration by 34.5% in the 1st quarter. Renaissance Technologies LLC now owns 1,370,610 shares of the company’s stock valued at $1,508,000 after buying an additional 351,277 shares during the period. Monaco Asset Management SAM bought a new position in GrowGeneration in the 2nd quarter worth about $1,775,000. BlackRock Inc. bought a new position in GrowGeneration in the 2nd quarter worth about $1,717,000. Finally, Primecap Management Co. CA bought a new position in GrowGeneration in the 2nd quarter worth about $558,000. 36.02% of the stock is owned by hedge funds and other institutional investors.

GrowGeneration Company Profile

GrowGeneration Corp. (NASDAQ:GRWG) is a specialty retailer serving the hydroponic and organic gardening markets. The company sells cultivation supplies and equipment to commercial and home growers through its retail stores and e-commerce platform. Its product offerings include hydroponic systems, growing media, plant nutrients, lighting, irrigation equipment, environmental-control systems, propagation supplies, and other gardening products. GrowGeneration also provides cultivation-related supplies and resources for customers growing a variety of indoor and greenhouse crops.