Michael Salaman Buys 58,476 Shares of GrowGeneration Corp. (NASDAQ:GRWG) Stock

GrowGeneration Corp. (NASDAQ:GRWG) President Michael Salaman acquired 58,476 shares of GrowGeneration stock in a transaction dated Tuesday, November 19th. The stock was purchased at an average cost of $1.74 per share, for a total transaction of $101,748.24. Following the completion of the purchase, the president now owns 1,503,848 shares in the company, valued at approximately $2,616,695.52. The trade was a 4.05 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

GrowGeneration Trading Up 3.9 %

GrowGeneration stock opened at $1.85 on Friday. GrowGeneration Corp. has a 1-year low of $1.55 and a 1-year high of $3.38. The firm has a market capitalization of $109.60 million, a price-to-earnings ratio of -2.13 and a beta of 3.14. The firm’s fifty day moving average price is $2.01 and its two-hundred day moving average price is $2.21.

Wall Street Analysts Forecast Growth

GRWG has been the topic of a number of analyst reports. Roth Mkm reduced their price objective on shares of GrowGeneration from $2.75 to $2.25 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus cut their target price on shares of GrowGeneration from $2.55 to $2.50 and set a “hold” rating on the stock in a research note on Monday, July 29th. Lake Street Capital cut their target price on shares of GrowGeneration from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Finally, Alliance Global Partners cut their target price on shares of GrowGeneration from $2.75 to $2.25 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.75.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GRWG. Tidal Investments LLC bought a new position in shares of GrowGeneration in the first quarter valued at $5,934,000. AWM Investment Company Inc. raised its holdings in shares of GrowGeneration by 17.8% in the first quarter. AWM Investment Company Inc. now owns 1,001,692 shares of the company’s stock valued at $2,865,000 after purchasing an additional 151,000 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of GrowGeneration by 120.0% in the third quarter. Jane Street Group LLC now owns 166,798 shares of the company’s stock valued at $355,000 after purchasing an additional 90,966 shares during the last quarter. Virtu Financial LLC raised its holdings in shares of GrowGeneration by 510.6% in the third quarter. Virtu Financial LLC now owns 81,655 shares of the company’s stock valued at $174,000 after purchasing an additional 68,282 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of 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 purchasing an additional 55,290 shares during the last quarter. 36.02% of the stock is owned by institutional investors.

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.