GrowGeneration (NASDAQ:GRWG) Trading Up 2.7% – Time to Buy?

GrowGeneration Corp. (NASDAQ:GRWG)’s share price rose 2.7% during mid-day trading on Wednesday . The company traded as high as $1.5350 and last traded at $1.52. Approximately 260,785 shares were traded during trading, a decline of 26% from the average session volume of 353,443 shares. The stock had previously closed at $1.48.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of GrowGeneration from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. Zacks Research raised GrowGeneration to a “hold” rating in a research note on Thursday, March 26th. Finally, Alliance Global Partners reiterated a “neutral” rating on shares of GrowGeneration in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, GrowGeneration has a consensus rating of “Reduce”.

GrowGeneration Stock Up 2.7%

The stock has a market cap of $91.34 million, a price-to-earnings ratio of -4.75 and a beta of 2.50. The stock’s fifty day moving average is $1.52 and its 200-day moving average is $1.38.

GrowGeneration (NASDAQ:GRWG) last posted its earnings results on Tuesday, May 12th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. The company had revenue of $38.39 million for the quarter, compared to analyst estimates of $36.45 million. GrowGeneration had a negative net margin of 11.91% and a negative return on equity of 19.50%. As a group, equities research analysts predict that GrowGeneration Corp. will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In other GrowGeneration news, CEO Darren Lampert purchased 64,098 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were bought at an average price of $1.55 per share, with a total value of $99,351.90. Following the completion of the transaction, the chief executive officer directly owned 1,765,800 shares in the company, valued at $2,736,990. This trade represents a 3.77% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.06% of the stock is owned by company insiders.

Institutional Trading of GrowGeneration

Large investors have recently bought and sold shares of the business. Engineers Gate Manager LP acquired a new stake in GrowGeneration during the 2nd quarter worth approximately $26,000. AQR Capital Management LLC bought a new stake in shares of GrowGeneration during the first quarter worth $27,000. Scientech Research LLC bought a new stake in shares of GrowGeneration during the third quarter worth $37,000. Janney Montgomery Scott LLC acquired a new stake in shares of GrowGeneration during the fourth quarter worth $42,000. Finally, Virtu Financial LLC bought a new stake in GrowGeneration in the 4th quarter valued at $43,000. 36.02% of the stock is owned by institutional investors.

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.