GrowGeneration (OTCMKTS:GRWG) Trading 5.5% Higher

GrowGeneration Corp (OTCMKTS:GRWG) traded up 5.5% on Wednesday . The company traded as high as $17.20 and last traded at $16.38. 5,076,709 shares changed hands during mid-day trading, an increase of 134% from the average session volume of 2,166,728 shares. The stock had previously closed at $15.53.

A number of research analysts recently issued reports on GRWG shares. Lake Street Capital boosted their price target on GrowGeneration from $7.00 to $9.00 and gave the company a “positive” rating in a report on Friday, July 17th. Stifel Nicolaus started coverage on GrowGeneration in a report on Wednesday, August 26th. They set a “buy” rating and a $22.00 price target on the stock. Alliance Global Partners boosted their price target on GrowGeneration from $10.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Oppenheimer boosted their price target on GrowGeneration from $15.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, August 28th. Finally, Benchmark started coverage on GrowGeneration in a report on Wednesday, May 20th. They set a “buy” rating and a $8.00 price target on the stock. Eight research analysts have rated the stock with a buy rating, GrowGeneration currently has a consensus rating of “Buy” and an average target price of $12.81.

The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 4.20. The business has a 50-day moving average price of $12.74 and a 200 day moving average price of $7.25. The stock has a market capitalization of $780.73 million, a P/E ratio of -77.98 and a beta of 1.90.

GrowGeneration (OTCMKTS:GRWG) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. GrowGeneration had a positive return on equity of 5.23% and a negative net margin of 0.10%. As a group, research analysts forecast that GrowGeneration Corp will post 0.15 earnings per share for the current fiscal year.

In other news, major shareholder Gotham Green Partners Llc sold 11,724 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $6.83, for a total transaction of $80,074.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Darren Lampert sold 125,000 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $16.53, for a total value of $2,066,250.00. Following the transaction, the chief executive officer now directly owns 1,238,914 shares in the company, valued at $20,479,248.42. The disclosure for this sale can be found here. Insiders have sold a total of 639,888 shares of company stock worth $7,153,594 over the last three months.

Large investors have recently bought and sold shares of the company. Strs Ohio purchased a new stake in shares of GrowGeneration in the 2nd quarter worth $50,000. Citigroup Inc. increased its stake in shares of GrowGeneration by 1,349.8% in the 1st quarter. Citigroup Inc. now owns 9,424 shares of the company’s stock worth $36,000 after purchasing an additional 8,774 shares in the last quarter. American International Group Inc. purchased a new stake in shares of GrowGeneration in the 2nd quarter worth $120,000. SG Americas Securities LLC purchased a new stake in shares of GrowGeneration in the 2nd quarter worth $122,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of GrowGeneration in the 2nd quarter worth $141,000. Hedge funds and other institutional investors own 1.86% of the company’s stock.

GrowGeneration Company Profile (OTCMKTS:GRWG)

GrowGeneration Corp., through its subsidiaries, operates retail hydroponic stores. It offers farming soil, hydroponic equipment, lighting, plant nutrients, and various other products. The company serves home growers of organic vegetables and fruits, do-it yourselfers, and growers in the cannabis related markets.

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