Insider Buying: GrowGeneration Corp. (NASDAQ:GRWG) President Buys 58,476 Shares of Stock

GrowGeneration Corp. (NASDAQ:GRWG) President Michael Salaman acquired 58,476 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were bought at an average price of $1.74 per share, with a total value of $101,748.24. Following the acquisition, the president now directly owns 1,503,848 shares of the company’s stock, valued at $2,616,695.52. The trade was a 4.05 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

GrowGeneration Trading Up 3.9 %

GRWG stock opened at $1.85 on Friday. The firm has a 50 day moving average of $2.01 and a 200-day moving average of $2.21. GrowGeneration Corp. has a 12 month low of $1.55 and a 12 month high of $3.38. The firm has a market capitalization of $109.60 million, a P/E ratio of -2.13 and a beta of 3.14.

Hedge Funds Weigh In On GrowGeneration

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in GrowGeneration by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,992,591 shares of the company’s stock valued at $8,559,000 after purchasing an additional 21,306 shares during the last quarter. Tidal Investments LLC bought a new stake in GrowGeneration during the first quarter valued at approximately $5,934,000. Dimensional Fund Advisors LP lifted its position in GrowGeneration by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,411,087 shares of the company’s stock valued at $3,034,000 after purchasing an additional 43,701 shares during the last quarter. AWM Investment Company Inc. lifted its position in GrowGeneration by 17.8% during the first quarter. AWM Investment Company Inc. now owns 1,001,692 shares of the company’s stock valued at $2,865,000 after purchasing an additional 151,000 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in GrowGeneration by 6.4% during the second quarter. Bank of New York Mellon Corp now owns 194,974 shares of the company’s stock valued at $419,000 after purchasing an additional 11,742 shares during the last quarter. 36.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.