urban-gro (NASDAQ:UGRO) Stock Price Down 11.3% – Here’s Why

Shares of urban-gro, Inc. (NASDAQ:UGRO) dropped 11.3% on Thursday . The company traded as low as $1.24 and last traded at $1.25. Approximately 49,319 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 72,011 shares. The stock had previously closed at $1.41.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on UGRO shares. Wall Street Zen raised shares of urban-gro from a “sell” rating to a “hold” rating in a report on Sunday, April 19th. Weiss Ratings downgraded shares of urban-gro from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

urban-gro Price Performance

The company has a market capitalization of $1.55 million, a PE ratio of -0.04 and a beta of -2.91. The business’s 50 day simple moving average is $2.44 and its 200 day simple moving average is $5.58.

Institutional Investors Weigh In On urban-gro

A hedge fund recently bought a new stake in urban-gro stock. Virtu Financial LLC purchased a new position in shares of urban-gro, Inc. (NASDAQ:UGRO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 97,267 shares of the company’s stock, valued at approximately $40,000. Virtu Financial LLC owned 0.77% of urban-gro at the end of the most recent quarter. Institutional investors own 20.56% of the company’s stock.

urban-gro Company Profile

Urban-gro, Inc is a provider of cultivation solutions for the regulated cannabis and controlled environment agriculture markets. The company specializes in engineering, procurement and construction management for both indoor and greenhouse facilities. Its core offerings include professional-grade horticultural lighting systems, fertigation and nutrient distribution equipment, HVAC and environmental control solutions, as well as site assessment and project implementation services designed to optimize plant health and yield.

Complementing its hardware solutions, Urban-gro offers the Emerald Platform, a cloud-based monitoring and management software suite.