GrowGeneration Corp. (NASDAQ:GRWG) Sees Large Decline in Short Interest

GrowGeneration Corp. (NASDAQ:GRWG) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 3,000,000 shares, a decrease of 14.0% from the February 13th total of 3,490,000 shares. Currently, 5.5% of the shares of the company are short sold. Based on an average daily volume of 682,600 shares, the days-to-cover ratio is presently 4.4 days.

Institutional Investors Weigh In On GrowGeneration

Several large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new position in GrowGeneration in the fourth quarter worth $27,000. Oxford Asset Management LLP purchased a new position in GrowGeneration in the fourth quarter worth $33,000. Intech Investment Management LLC purchased a new position in GrowGeneration in the fourth quarter worth $42,000. Two Sigma Securities LLC raised its position in GrowGeneration by 158.6% in the fourth quarter. Two Sigma Securities LLC now owns 32,594 shares of the company’s stock worth $55,000 after acquiring an additional 19,992 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new position in GrowGeneration in the fourth quarter worth $62,000. Hedge funds and other institutional investors own 36.02% of the company’s stock.

GrowGeneration Trading Up 11.9 %

Shares of GrowGeneration stock traded up $0.13 during trading hours on Wednesday, hitting $1.23. 1,295,152 shares of the company were exchanged, compared to its average volume of 781,772. GrowGeneration has a 1 year low of $0.91 and a 1 year high of $3.38. The business has a 50-day moving average of $1.35 and a 200-day moving average of $1.72. The stock has a market capitalization of $73.19 million, a price-to-earnings ratio of -1.42 and a beta of 3.39.

GrowGeneration Company Profile

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.