GrowGeneration Corp. (NASDAQ:GRWG) Short Interest Update


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GrowGeneration Corp. (NASDAQ:GRWG) saw a large decline in short interest in April. As of April 15th, there was short interest totalling 2,560,000 shares, a decline of 20.2% from the March 31st total of 3,210,000 shares. Based on an average daily trading volume, of 2,386,600 shares, the short-interest ratio is presently 1.1 days.

NASDAQ:GRWG traded down $1.60 during trading hours on Tuesday, hitting $42.18. 1,501,096 shares of the company’s stock traded hands, compared to its average volume of 2,432,085. The firm has a market cap of $2.47 billion, a P/E ratio of 843.77 and a beta of 3.09. GrowGeneration has a twelve month low of $4.46 and a twelve month high of $67.75. The stock’s fifty day moving average price is $48.42 and its two-hundred day moving average price is $41.60.

GrowGeneration (NASDAQ:GRWG) last posted its quarterly earnings results on Wednesday, March 24th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). The business had revenue of $61.92 million for the quarter, compared to analyst estimates of $60.87 million. GrowGeneration had a net margin of 2.14% and a return on equity of 4.68%. As a group, research analysts predict that GrowGeneration will post 0.15 EPS for the current year.

A number of research firms have recently commented on GRWG. Stifel Nicolaus boosted their price objective on GrowGeneration from $40.00 to $58.00 in a research note on Wednesday, January 13th. LADENBURG THALM/SH SH lowered GrowGeneration from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 12th. Alliance Global Partners lowered GrowGeneration from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $45.00 to $54.00 in a research report on Tuesday, January 12th. Lake Street Capital boosted their target price on GrowGeneration from $60.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, February 17th. Finally, Zacks Investment Research lowered GrowGeneration from a “buy” rating to a “hold” rating in a research report on Friday, February 5th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. GrowGeneration has an average rating of “Buy” and a consensus target price of $51.13.

In other news, Director Sean Stiefel sold 8,305 shares of the business’s stock in a transaction on Thursday, April 15th. The stock was sold at an average price of $47.58, for a total value of $395,151.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 13.57% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Morgan Stanley raised its position in GrowGeneration by 1,369.5% during the third quarter. Morgan Stanley now owns 251,135 shares of the company’s stock valued at $4,013,000 after buying an additional 234,045 shares during the period. Stratos Wealth Partners LTD. grew its stake in GrowGeneration by 20.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 33,016 shares of the company’s stock valued at $1,328,000 after purchasing an additional 5,616 shares in the last quarter. GSA Capital Partners LLP purchased a new position in GrowGeneration in the fourth quarter valued at about $419,000. Weil Company Inc. purchased a new position in GrowGeneration in the fourth quarter valued at about $310,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in GrowGeneration in the fourth quarter valued at about $200,000. 51.31% of the stock is currently owned by hedge funds and other institutional investors.

GrowGeneration Company Profile

GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. It engages in the marketing and distribution of horticultural, organics, and lighting and hydroponics products, including lighting fixtures, nutrients, seeds and growing media, systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools.

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