GrowGeneration (NASDAQ:GRWG) Shares Down 1.4% – Time to Sell?

GrowGeneration Corp. (NASDAQ:GRWG)’s stock price was down 1.4% on Wednesday . The company traded as low as $1.38 and last traded at $1.38. 171,605 shares traded hands during trading, a decline of 28% from the average session volume of 237,101 shares. The stock had previously closed at $1.40.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GRWG shares. Weiss Ratings raised GrowGeneration from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. Alliance Global Partners restated a “neutral” rating on shares of GrowGeneration in a report on Wednesday, May 13th. Finally, Zacks Research raised GrowGeneration to a “hold” rating in a report on Thursday, March 26th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

GrowGeneration Price Performance

The firm has a market capitalization of $83.16 million, a PE ratio of -4.30 and a beta of 2.50. The company has a 50-day moving average price of $1.55 and a 200-day moving average price of $1.35.

GrowGeneration (NASDAQ:GRWG) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $38.39 million during the quarter, compared to the consensus estimate of $36.45 million. GrowGeneration had a negative net margin of 11.91% and a negative return on equity of 19.50%. On average, research analysts predict that GrowGeneration Corp. will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at GrowGeneration

In other GrowGeneration news, CEO Darren Lampert purchased 64,098 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average price of $1.55 per share, for a total transaction of $99,351.90. Following the completion of the purchase, the chief executive officer owned 1,765,800 shares in the company, valued at $2,736,990. The trade was a 3.77% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GrowGeneration

Several hedge funds have recently modified their holdings of GRWG. Bank of America Corp DE lifted its stake in GrowGeneration by 36.7% during the fourth quarter. Bank of America Corp DE now owns 60,104 shares of the company’s stock valued at $102,000 after purchasing an additional 16,132 shares during the last quarter. AQR Capital Management LLC purchased a new position in GrowGeneration during the 1st quarter valued at about $27,000. XTX Topco Ltd purchased a new position in GrowGeneration during the second quarter valued at approximately $55,000. Jane Street Group LLC increased its stake in shares of GrowGeneration by 1,193.2% in the second quarter. Jane Street Group LLC now owns 792,229 shares of the company’s stock worth $741,000 after acquiring an additional 730,968 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of GrowGeneration during the 2nd quarter worth about $26,000. 36.02% of the stock is currently owned by institutional investors and hedge funds.

About GrowGeneration

GrowGeneration Corp. is the largest chain of specialty hydroponic and organic garden centers in the United States, serving commercial and home growers of all experience levels. The company offers a broad assortment of cultivation supplies, including high-efficiency LED lighting, climate control systems, irrigation and fertigation equipment, growing media and nutrients. Through its retail outlets and e-commerce platform, GrowGeneration caters to indoor and outdoor horticultural operations, with a particular focus on the rapidly expanding legal cannabis market.

In addition to its product offerings, GrowGeneration provides design, consulting and project management services for turnkey cultivation facilities.