GrowGeneration (NASDAQ:GRWG) PT Raised to $65.00 at Craig Hallum

GrowGeneration (NASDAQ:GRWG) had its target price hoisted by investment analysts at Craig Hallum from $35.00 to $65.00 in a report released on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price target indicates a potential upside of 35.44% from the company’s previous close.

A number of other analysts have also recently issued reports on GRWG. Zacks Investment Research cut GrowGeneration from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 14th. Lake Street Capital lifted their target price on shares of GrowGeneration from $28.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, December 1st. Roth Capital increased their target price on shares of GrowGeneration from $20.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, November 13th. Stifel Nicolaus upped their price objective on GrowGeneration from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, November 13th. Finally, LADENBURG THALM/SH SH cut GrowGeneration from a “buy” rating to a “neutral” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. GrowGeneration has an average rating of “Buy” and an average price target of $44.29.

Shares of NASDAQ:GRWG opened at $47.99 on Tuesday. The firm has a 50 day simple moving average of $38.76 and a 200-day simple moving average of $22.71. GrowGeneration has a twelve month low of $2.62 and a twelve month high of $53.43. The company has a market capitalization of $1.77 billion, a PE ratio of 959.99 and a beta of 3.10.

GrowGeneration (NASDAQ:GRWG) last announced its quarterly earnings results on Wednesday, November 18th. The company reported $0.06 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. GrowGeneration had a net margin of 2.14% and a return on equity of 4.68%. The firm had revenue of $55.01 million for the quarter, compared to analyst estimates of $47.26 million. As a group, equities research analysts expect that GrowGeneration will post 0.15 EPS for the current fiscal year.

In other news, CFO Monty R. Lamirato sold 7,487 shares of the stock in a transaction that occurred on Friday, November 20th. The stock was sold at an average price of $29.81, for a total transaction of $223,187.47. Following the completion of the transaction, the chief financial officer now directly owns 87,054 shares of the company’s stock, valued at approximately $2,595,079.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Tony Sullivan sold 40,000 shares of GrowGeneration stock in a transaction that occurred on Monday, November 23rd. The shares were sold at an average price of $32.12, for a total value of $1,284,800.00. Following the completion of the sale, the chief operating officer now owns 80,000 shares in the company, valued at $2,569,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 748,487 shares of company stock valued at $23,075,797. 13.57% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Sowell Financial Services LLC boosted its holdings in GrowGeneration by 132.9% during the fourth quarter. Sowell Financial Services LLC now owns 1,863 shares of the company’s stock worth $75,000 after buying an additional 1,063 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of GrowGeneration during the 3rd quarter valued at approximately $519,000. Eudaimonia Partners LLC purchased a new stake in shares of GrowGeneration during the 3rd quarter worth approximately $49,000. Kathmere Capital Management LLC acquired a new stake in shares of GrowGeneration in the 3rd quarter worth approximately $474,000. Finally, IHT Wealth Management LLC purchased a new position in GrowGeneration in the 3rd quarter valued at approximately $220,000. Institutional investors and hedge funds own 38.56% of the company’s stock.

GrowGeneration Company Profile

GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. It engages in the marketing and distribution of horticultural, organics, and lighting and hydroponics products, including lighting fixtures, nutrients, seeds and growing media, systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools.

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