GrowGeneration (NASDAQ:GRWG) Stock Price Down 1.2% – Here’s What Happened

GrowGeneration Corp. (NASDAQ:GRWG)’s stock price fell 1.2% on Tuesday . The stock traded as low as $1.58 and last traded at $1.59. 327,761 shares changed hands during trading, a decline of 30% from the average session volume of 471,579 shares. The stock had previously closed at $1.61.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GRWG. Weiss Ratings upgraded GrowGeneration from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 27th. Zacks Research upgraded GrowGeneration to a “hold” rating in a report on Thursday, March 26th. Finally, Alliance Global Partners restated a “neutral” rating on shares of GrowGeneration in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

GrowGeneration Price Performance

The firm has a fifty day moving average of $1.41 and a two-hundred day moving average of $1.38. The stock has a market capitalization of $92.54 million, a P/E ratio of -4.81 and a beta of 2.49.

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

Insider Buying and Selling at GrowGeneration

In other news, CEO Darren Lampert acquired 64,098 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average cost of $1.55 per share, for a total transaction of $99,351.90. Following the completion of the acquisition, the chief executive officer directly owned 1,765,800 shares of the company’s stock, valued at $2,736,990. The trade was a 3.77% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.06% of the stock is owned by insiders.

Hedge Funds Weigh In On GrowGeneration

Large investors have recently added to or reduced their stakes in the company. Scientech Research LLC bought a new position in GrowGeneration in the third quarter worth about $37,000. AQR Capital Management LLC bought a new position in GrowGeneration in the first quarter worth about $27,000. Janney Montgomery Scott LLC bought a new position in GrowGeneration in the fourth quarter worth about $42,000. Engineers Gate Manager LP bought a new position in GrowGeneration in the second quarter worth about $26,000. Finally, Virtu Financial LLC bought a new position in GrowGeneration in the fourth quarter worth about $43,000. 36.02% of the stock is currently owned by institutional investors.

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.