Analysts Issue Forecasts for GrowGeneration FY2024 Earnings

GrowGeneration Corp. (NASDAQ:GRWG) – Research analysts at Alliance Global Partners reduced their FY2024 earnings per share estimates for shares of GrowGeneration in a report released on Wednesday, November 13th. Alliance Global Partners analyst A. Grey now expects that the company will earn ($0.59) per share for the year, down from their previous forecast of ($0.47). Alliance Global Partners currently has a “Neutral” rating and a $2.25 price target on the stock. The consensus estimate for GrowGeneration’s current full-year earnings is ($0.53) per share. Alliance Global Partners also issued estimates for GrowGeneration’s Q4 2024 earnings at ($0.16) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.30) EPS.

Several other brokerages have also commented on GRWG. Roth Mkm cut their target price on GrowGeneration from $2.75 to $2.25 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Lake Street Capital cut their price target on GrowGeneration from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Finally, Stifel Nicolaus cut their price target on GrowGeneration from $2.55 to $2.50 and set a “hold” rating on the stock in a report on Monday, July 29th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $2.75.

GrowGeneration Price Performance

Shares of GrowGeneration stock opened at $1.75 on Monday. GrowGeneration has a one year low of $1.55 and a one year high of $3.38. The stock’s 50-day moving average is $2.02 and its 200 day moving average is $2.22. The firm has a market cap of $103.67 million, a price-to-earnings ratio of -2.01 and a beta of 3.14.

Insiders Place Their Bets

In related news, Director Eula L. Adams acquired 25,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average cost of $2.02 per share, with a total value of $50,500.00. Following the completion of the purchase, the director now directly owns 25,000 shares in the company, valued at $50,500. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.07% of the company’s stock.

Institutional Trading of GrowGeneration

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of GrowGeneration in the third quarter worth approximately $42,000. Price T Rowe Associates Inc. MD raised its stake in shares of GrowGeneration by 47.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 69,104 shares of the company’s stock worth $198,000 after purchasing an additional 22,269 shares during the last quarter. Barclays PLC raised its stake in shares of GrowGeneration by 274.2% in the third quarter. Barclays PLC now owns 75,452 shares of the company’s stock worth $161,000 after purchasing an additional 55,290 shares during the last quarter. American Century Companies Inc. raised its stake in shares of GrowGeneration by 16.8% in the second quarter. American Century Companies Inc. now owns 84,823 shares of the company’s stock worth $182,000 after purchasing an additional 12,197 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of GrowGeneration by 5.3% in the third quarter. Empowered Funds LLC now owns 112,180 shares of the company’s stock worth $239,000 after purchasing an additional 5,628 shares during the last quarter. 36.02% of the stock is owned by hedge funds and other institutional investors.

GrowGeneration Company Profile

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.