GrowGeneration (NASDAQ:GRWG) Announces Earnings Results, Beats Estimates By $0.01 EPS

GrowGeneration (NASDAQ:GRWG) announced its quarterly earnings data on Tuesday. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01, FiscalAI reports. GrowGeneration had a negative return on equity of 19.50% and a negative net margin of 11.91%.The company had revenue of $43.22 million for the quarter, compared to the consensus estimate of $42.75 million.

GrowGeneration Stock Up 4.2%

Shares of GrowGeneration stock traded up $0.06 on Tuesday, reaching $1.49. 613,309 shares of the stock were exchanged, compared to its average volume of 396,197. GrowGeneration has a twelve month low of $1.00 and a twelve month high of $2.40. The business has a 50 day moving average price of $1.48 and a two-hundred day moving average price of $1.34. The firm has a market capitalization of $89.53 million, a price-to-earnings ratio of -4.66 and a beta of 2.51.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GRWG shares. Weiss Ratings cut shares of GrowGeneration from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday. Alliance Global Partners restated a “neutral” rating on shares of GrowGeneration in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, GrowGeneration currently has a consensus rating of “Reduce”.

Insider Transactions at GrowGeneration

In related news, CEO Darren Lampert acquired 64,098 shares of GrowGeneration stock in a transaction on Monday, May 18th. The stock was acquired at an average price of $1.55 per share, for a total transaction of $99,351.90. Following the purchase, the chief executive officer owned 1,765,800 shares of the company’s stock, valued at approximately $2,736,990. This represents a 3.77% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GrowGeneration

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new stake in GrowGeneration during the second quarter worth $26,000. AQR Capital Management LLC acquired a new position in GrowGeneration in the 1st quarter worth about $27,000. Scientech Research LLC acquired a new position in GrowGeneration in the 3rd quarter worth about $37,000. Janney Montgomery Scott LLC purchased a new position in GrowGeneration during the fourth quarter worth approximately $42,000. Finally, Virtu Financial LLC acquired a new stake in GrowGeneration in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 36.02% of the company’s stock.

GrowGeneration Company Profile

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.