GrowGeneration (NASDAQ:GRWG) Shares Down 6.2%

GrowGeneration Corp. (NASDAQ:GRWG)’s stock price was down 6.2% on Tuesday . The company traded as low as $26.48 and last traded at $26.61. Approximately 82,917 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 1,513,340 shares. The stock had previously closed at $28.38.

A number of equities analysts have weighed in on GRWG shares. Lake Street Capital decreased their target price on GrowGeneration from $77.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, August 23rd. Craig Hallum decreased their target price on GrowGeneration from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, August 13th. Stifel Nicolaus decreased their target price on GrowGeneration from $67.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, August 13th. Zacks Investment Research lowered shares of GrowGeneration from a “buy” rating to a “hold” rating in a research report on Friday, August 13th. Finally, Northland Securities began coverage on shares of GrowGeneration in a research report on Wednesday, July 7th. They set a “buy” rating and a $55.00 price target for the company. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $51.67.

The stock has a 50 day moving average of $36.16 and a 200-day moving average of $41.97. The company has a market capitalization of $1.60 billion, a P/E ratio of 89.63 and a beta of 2.82.

GrowGeneration (NASDAQ:GRWG) last announced its quarterly earnings data on Thursday, August 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.01). GrowGeneration had a net margin of 5.32% and a return on equity of 6.20%. Sell-side analysts expect that GrowGeneration Corp. will post 0.46 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC grew its stake in shares of GrowGeneration by 13.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 56,194 shares of the company’s stock valued at $2,703,000 after acquiring an additional 6,772 shares during the period. 1832 Asset Management L.P. bought a new position in GrowGeneration in the 2nd quarter worth approximately $5,896,000. Professional Advisory Services Inc. bought a new position in GrowGeneration in the 2nd quarter worth approximately $361,000. Capital Impact Advisors LLC boosted its stake in GrowGeneration by 310.1% in the 2nd quarter. Capital Impact Advisors LLC now owns 160,068 shares of the company’s stock worth $7,699,000 after purchasing an additional 121,034 shares during the period. Finally, Lisanti Capital Growth LLC boosted its stake in GrowGeneration by 45.8% in the 2nd quarter. Lisanti Capital Growth LLC now owns 141,875 shares of the company’s stock worth $6,824,000 after purchasing an additional 44,590 shares during the period. Institutional investors own 42.38% of the company’s stock.

About GrowGeneration (NASDAQ:GRWG)

GrowGeneration Corp. engages in the retail of hydroponic and organic specialty gardening products. It offers lighting fixtures, nutrients, seeds and growing media systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools. The company was founded by Darren Lampert and Michael Salaman on March 6, 2014 and is headquartered in Denver, CO.

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