GrowGeneration (NASDAQ:GRWG) Upgraded to Hold at Zacks Research

GrowGeneration (NASDAQ:GRWG) was upgraded by equities research analysts at Zacks Research to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GrowGeneration in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $2.50.

GrowGeneration Stock Down 3.6%

Shares of NASDAQ:GRWG opened at $1.07 on Thursday. GrowGeneration has a twelve month low of $0.82 and a twelve month high of $2.40. The stock’s 50 day moving average is $1.19 and its 200-day moving average is $1.48. The firm has a market capitalization of $64.30 million, a price-to-earnings ratio of -2.68 and a beta of 2.42.

GrowGeneration (NASDAQ:GRWG) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.05). The business had revenue of $37.82 million during the quarter, compared to analyst estimates of $40.02 million. GrowGeneration had a negative net margin of 14.87% and a negative return on equity of 22.90%. Equities research analysts anticipate that GrowGeneration will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Scientech Research LLC bought a new stake in GrowGeneration during the third quarter worth $37,000. AQR Capital Management LLC bought a new position in GrowGeneration during the 1st quarter valued at $27,000. Janney Montgomery Scott LLC purchased a new position in GrowGeneration during the 4th quarter worth $42,000. Engineers Gate Manager LP purchased a new position in GrowGeneration during the 2nd quarter worth $26,000. Finally, Virtu Financial LLC bought a new stake in shares of GrowGeneration in the 4th quarter worth $43,000. Hedge funds and other institutional investors own 36.02% of the company’s stock.

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.