GrowGeneration (NASDAQ:GRWG) PT Lowered to $4.00 at Lake Street Capital

GrowGeneration (NASDAQ:GRWG) had its price target lowered by Lake Street Capital from $5.00 to $4.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Roth Mkm increased their target price on shares of GrowGeneration from $2.25 to $2.75 and gave the stock a neutral rating in a report on Thursday, May 9th.

GrowGeneration Stock Down 4.5 %

GrowGeneration stock opened at $2.31 on Friday. The firm has a market cap of $140.24 million, a PE ratio of -2.92 and a beta of 3.09. GrowGeneration has a 52-week low of $1.77 and a 52-week high of $4.06. The company’s 50 day moving average is $2.41 and its two-hundred day moving average is $2.41.

GrowGeneration (NASDAQ:GRWG) last released its earnings results on Wednesday, May 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). The business had revenue of $47.89 million for the quarter, compared to analyst estimates of $46.52 million. GrowGeneration had a negative return on equity of 18.00% and a negative net margin of 22.68%. On average, equities research analysts anticipate that GrowGeneration will post -0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GrowGeneration

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of GrowGeneration by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,992,591 shares of the company’s stock valued at $8,559,000 after purchasing an additional 21,306 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of GrowGeneration in the 1st quarter valued at $5,934,000. AWM Investment Company Inc. raised its holdings in shares of GrowGeneration by 17.8% in the 1st quarter. AWM Investment Company Inc. now owns 1,001,692 shares of the company’s stock valued at $2,865,000 after purchasing an additional 151,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of GrowGeneration by 9.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 500,125 shares of the company’s stock valued at $1,461,000 after purchasing an additional 42,123 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of GrowGeneration by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 194,974 shares of the company’s stock valued at $419,000 after purchasing an additional 11,742 shares in the last quarter. 36.02% of the stock is currently owned by institutional investors and hedge funds.

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.