Darren Lampert Buys 64,098 Shares of GrowGeneration (NASDAQ:GRWG) Stock

GrowGeneration Corp. (NASDAQ:GRWG) CEO Darren Lampert purchased 64,098 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average cost of $1.55 per share, with a total value of $99,351.90. Following the completion of the transaction, the chief executive officer owned 1,765,800 shares in the company, valued at $2,736,990. This trade represents a 3.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

GrowGeneration Trading Up 10.8%

Shares of GrowGeneration stock opened at $1.74 on Thursday. The company has a fifty day moving average price of $1.22 and a 200 day moving average price of $1.37. GrowGeneration Corp. has a twelve month low of $0.87 and a twelve month high of $2.40. The stock has a market cap of $104.56 million, a price-to-earnings ratio of -5.44 and a beta of 2.40.

GrowGeneration (NASDAQ:GRWG) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. GrowGeneration had a negative net margin of 11.91% and a negative return on equity of 19.50%. The firm had revenue of $38.39 million for the quarter, compared to analyst estimates of $36.45 million. Analysts forecast that GrowGeneration Corp. will post -0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GRWG has been the topic of a number of recent analyst reports. Alliance Global Partners reiterated a “neutral” rating on shares of GrowGeneration in a report on Wednesday, May 13th. Weiss Ratings lowered shares of GrowGeneration from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 12th. Finally, Zacks Research upgraded shares of GrowGeneration to a “hold” rating in a report on Thursday, March 26th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On GrowGeneration

Institutional investors have recently modified their holdings of the stock. Bridgeway Capital Management LLC raised its stake in shares of GrowGeneration by 274.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 69,298 shares of the company’s stock valued at $104,000 after purchasing an additional 50,801 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of GrowGeneration in the 4th quarter valued at about $42,000. Scientech Research LLC acquired a new stake in shares of GrowGeneration in the 3rd quarter valued at about $37,000. Engineers Gate Manager LP acquired a new stake in shares of GrowGeneration in the 2nd quarter valued at about $26,000. Finally, XTX Topco Ltd acquired a new stake in shares of GrowGeneration in the 2nd quarter valued at about $55,000. Institutional investors and hedge funds 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.