GrowGeneration (NASDAQ:GRWG) Trading Up 8.1%


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GrowGeneration Corp. (NASDAQ:GRWG) shares were up 8.1% during trading on Thursday . The stock traded as high as $53.80 and last traded at $52.95. Approximately 31,662 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 2,694,375 shares. The stock had previously closed at $49.00.

Several analysts have issued reports on the company. Alliance Global Partners lowered GrowGeneration from a “buy” rating to a “neutral” rating and boosted their price target for the company from $45.00 to $54.00 in a report on Tuesday, January 12th. Lake Street Capital boosted their price target on GrowGeneration from $60.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, February 17th. Craig Hallum boosted their price target on GrowGeneration from $35.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, January 12th. Roth Capital lowered GrowGeneration from a “buy” rating to a “neutral” rating and boosted their price target for the company from $27.00 to $45.00 in a report on Wednesday, January 13th. Finally, LADENBURG THALM/SH SH lowered GrowGeneration from a “buy” rating to a “neutral” rating in a report on Tuesday, January 12th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $51.13.

The business has a 50-day simple moving average of $49.18 and a 200-day simple moving average of $37.41. The firm has a market capitalization of $3.11 billion, a PE ratio of 1,081.82 and a beta of 3.09.

GrowGeneration (NASDAQ:GRWG) last issued its quarterly earnings data on Wednesday, March 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). GrowGeneration had a net margin of 2.14% and a return on equity of 4.68%. Equities research analysts anticipate that GrowGeneration Corp. will post 0.15 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRWG. ETF Managers Group LLC grew its stake in shares of GrowGeneration by 72.6% during the fourth quarter. ETF Managers Group LLC now owns 1,615,450 shares of the company’s stock valued at $64,973,000 after buying an additional 679,639 shares during the last quarter. BlackRock Inc. grew its stake in shares of GrowGeneration by 24.0% during the third quarter. BlackRock Inc. now owns 2,414,888 shares of the company’s stock valued at $38,589,000 after buying an additional 468,034 shares during the last quarter. Voloridge Investment Management LLC grew its stake in shares of GrowGeneration by 161.3% during the fourth quarter. Voloridge Investment Management LLC now owns 634,331 shares of the company’s stock valued at $25,513,000 after buying an additional 391,538 shares during the last quarter. State Street Corp grew its stake in shares of GrowGeneration by 83.0% during the third quarter. State Street Corp now owns 542,453 shares of the company’s stock valued at $8,668,000 after buying an additional 246,038 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of GrowGeneration by 1,369.5% during the third quarter. Morgan Stanley now owns 251,135 shares of the company’s stock valued at $4,013,000 after buying an additional 234,045 shares during the last quarter. 51.31% of the stock is currently owned by hedge funds and other institutional investors.

GrowGeneration Company Profile (NASDAQ:GRWG)

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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