Short Interest in GrowGeneration Corp. (NASDAQ:GRWG) Declines By 7.7%

GrowGeneration Corp. (NASDAQ:GRWG) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 3,860,000 shares, a drop of 7.7% from the September 30th total of 4,180,000 shares. Currently, 7.1% of the shares of the company are short sold. Based on an average trading volume of 492,000 shares, the days-to-cover ratio is presently 7.8 days.

Analyst Ratings Changes

GRWG has been the subject of a number of research reports. Stifel Nicolaus dropped their target price on shares of GrowGeneration from $2.55 to $2.50 and set a “hold” rating for the company in a research report on Monday, July 29th. Roth Mkm decreased their target price on GrowGeneration from $2.75 to $2.25 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Lake Street Capital dropped their price target on GrowGeneration from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Finally, Alliance Global Partners decreased their price objective on GrowGeneration from $2.75 to $2.25 and set a “neutral” rating on the stock in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.75.

GrowGeneration Stock Performance

NASDAQ GRWG traded down $0.05 on Thursday, hitting $2.06. 246,182 shares of the stock were exchanged, compared to its average volume of 816,159. GrowGeneration has a 52-week low of $1.77 and a 52-week high of $3.38. The firm has a market capitalization of $124.76 million, a P/E ratio of -2.60 and a beta of 3.14. The stock has a fifty day moving average price of $2.04 and a two-hundred day moving average price of $2.26.

GrowGeneration (NASDAQ:GRWG) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). GrowGeneration had a negative return on equity of 19.43% and a negative net margin of 23.91%. The firm had revenue of $53.54 million for the quarter, compared to analysts’ expectations of $53.00 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. Sell-side analysts expect that GrowGeneration will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at GrowGeneration

In related news, CEO Darren Lampert acquired 85,300 shares of the stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of $1.88 per share, with a total value of $160,364.00. Following the transaction, the chief executive officer now directly owns 1,518,420 shares in the company, valued at approximately $2,854,629.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other GrowGeneration news, Director Eula L. Adams bought 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average price of $2.02 per share, for a total transaction of $50,500.00. Following the completion of the transaction, the director now owns 25,000 shares of the company’s stock, valued at $50,500. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Darren Lampert bought 85,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $1.88 per share, for a total transaction of $160,364.00. Following the purchase, the chief executive officer now directly owns 1,518,420 shares in the company, valued at $2,854,629.60. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 246,685 shares of company stock worth $468,800 in the last 90 days. 7.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GrowGeneration

A number of institutional investors and hedge funds have recently modified their holdings of GRWG. SG Americas Securities LLC purchased a new position in shares of GrowGeneration during the third quarter valued at $42,000. American Century Companies Inc. grew its holdings in GrowGeneration by 16.8% in the second quarter. American Century Companies Inc. now owns 84,823 shares of the company’s stock worth $182,000 after purchasing an additional 12,197 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of GrowGeneration by 47.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 69,104 shares of the company’s stock worth $198,000 after purchasing an additional 22,269 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its holdings in shares of GrowGeneration by 44.0% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 180,000 shares of the company’s stock valued at $387,000 after purchasing an additional 55,000 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in GrowGeneration by 6.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 194,974 shares of the company’s stock worth $419,000 after buying an additional 11,742 shares during the last quarter. 36.02% of the stock is owned by institutional investors.

About GrowGeneration

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.