GrowGeneration Corp. (NASDAQ:GRWG) Short Interest Update

GrowGeneration Corp. (NASDAQ:GRWG) was the target of a large drop in short interest in October. As of October 15th, there was short interest totalling 3,860,000 shares, a drop of 7.7% from the September 30th total of 4,180,000 shares. Currently, 7.1% of the company’s stock are short sold. Based on an average trading volume of 492,000 shares, the days-to-cover ratio is presently 7.8 days.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GRWG. Stifel Nicolaus reduced their price objective on GrowGeneration from $2.55 to $2.50 and set a “hold” rating for the company in a report on Monday, July 29th. Alliance Global Partners decreased their price objective on GrowGeneration from $2.75 to $2.25 and set a “neutral” rating for the company in a report on Friday, August 9th. Lake Street Capital dropped their price objective on shares of GrowGeneration from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Finally, Roth Mkm reduced their target price on shares of GrowGeneration from $2.75 to $2.25 and set a “neutral” rating for the company in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, GrowGeneration has an average rating of “Hold” and an average price target of $2.75.

GrowGeneration Stock Down 2.6 %

Shares of GRWG traded down $0.05 during trading hours on Thursday, hitting $2.06. The company had a trading volume of 246,182 shares, compared to its average volume of 816,159. The firm has a market cap of $124.76 million, a P/E ratio of -2.60 and a beta of 3.14. GrowGeneration has a 52-week low of $1.77 and a 52-week high of $3.38. The stock’s 50 day moving average price is $2.04 and its 200 day moving average price is $2.26.

GrowGeneration (NASDAQ:GRWG) last posted its earnings results on Thursday, August 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). GrowGeneration had a negative return on equity of 19.43% and a negative net margin of 23.91%. The business had revenue of $53.54 million during the quarter, compared to the consensus estimate of $53.00 million. During the same period in the previous year, the business earned ($0.09) earnings per share. On average, research analysts expect that GrowGeneration will post -0.45 EPS for the current fiscal year.

Insider Activity at GrowGeneration

In related news, CEO Darren Lampert purchased 85,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average price of $1.88 per share, for a total transaction of $160,364.00. Following the completion of the acquisition, the chief executive officer now owns 1,518,420 shares of the company’s stock, valued at $2,854,629.60. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Darren Lampert purchased 85,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average cost of $1.88 per share, with a total value of $160,364.00. Following the completion of the transaction, the chief executive officer now directly owns 1,518,420 shares of the company’s stock, valued at approximately $2,854,629.60. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen Aiello acquired 51,084 shares of GrowGeneration stock in a transaction on Wednesday, August 14th. The stock was purchased at an average cost of $1.91 per share, with a total value of $97,570.44. Following the completion of the transaction, the director now directly owns 446,061 shares in the company, valued at $851,976.51. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 246,685 shares of company stock valued at $468,800. 7.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GrowGeneration

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new stake in shares of GrowGeneration in the 1st quarter worth $5,934,000. AWM Investment Company Inc. raised its stake in GrowGeneration by 17.8% during the 1st quarter. AWM Investment Company Inc. now owns 1,001,692 shares of the company’s stock valued at $2,865,000 after buying an additional 151,000 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its holdings in shares of GrowGeneration by 44.0% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 180,000 shares of the company’s stock valued at $387,000 after buying an additional 55,000 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of GrowGeneration by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,411,087 shares of the company’s stock worth $3,034,000 after buying an additional 43,701 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in GrowGeneration by 9.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 500,125 shares of the company’s stock valued at $1,461,000 after acquiring an additional 42,123 shares during the last quarter. Hedge funds and other institutional investors own 36.02% of the company’s stock.

About GrowGeneration

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.