GrowGeneration Corp. (NASDAQ:GRWG) Sees Large Increase in Short Interest

GrowGeneration Corp. (NASDAQ:GRWG) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 4,400,000 shares, an increase of 12.0% from the July 15th total of 3,930,000 shares. Based on an average daily volume of 612,800 shares, the days-to-cover ratio is presently 7.2 days. Currently, 7.8% of the company’s stock are short sold.

Insider Transactions at GrowGeneration

In related news, Director Stephen Aiello purchased 51,084 shares of GrowGeneration stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $1.91 per share, for a total transaction of $97,570.44. Following the completion of the acquisition, the director now directly owns 446,061 shares of the company’s stock, valued at $851,976.51. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Darren Lampert bought 85,300 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $1.88 per share, for a total transaction of $160,364.00. Following the purchase, the chief executive officer now owns 1,518,420 shares of the company’s stock, valued at approximately $2,854,629.60. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen Aiello purchased 51,084 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average cost of $1.91 per share, with a total value of $97,570.44. Following the completion of the purchase, the director now directly owns 446,061 shares in the company, valued at $851,976.51. The disclosure for this purchase can be found here. Insiders have acquired a total of 221,685 shares of company stock valued at $418,300 over the last 90 days. 7.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On GrowGeneration

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRWG. SG Americas Securities LLC bought a new position in shares of GrowGeneration in the fourth quarter valued at about $31,000. American Century Companies Inc. increased its position in GrowGeneration by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 84,823 shares of the company’s stock worth $182,000 after buying an additional 12,197 shares during the period. Price T Rowe Associates Inc. MD raised its stake in GrowGeneration by 47.5% in the 1st 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 in the last quarter. Symmetry Peak Management LLC bought a new stake in shares of GrowGeneration in the fourth quarter valued at approximately $201,000. Finally, Baader Bank Aktiengesellschaft raised its holdings in GrowGeneration by 44.0% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 180,000 shares of the company’s stock valued at $387,000 after acquiring an additional 55,000 shares in the last quarter. 36.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GRWG shares. Stifel Nicolaus cut their price target on shares of GrowGeneration from $2.55 to $2.50 and set a “hold” rating on the stock in a research report on Monday, July 29th. Roth Mkm lowered 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 reduced their price target on GrowGeneration from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Finally, Alliance Global Partners decreased their price target on GrowGeneration from $2.75 to $2.25 and set a “neutral” rating for the company in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.75.

GrowGeneration Stock Down 2.6 %

Shares of GRWG stock traded down $0.06 on Monday, reaching $2.21. The stock had a trading volume of 115,673 shares, compared to its average volume of 940,805. GrowGeneration has a 12 month low of $1.77 and a 12 month high of $3.78. The firm has a market capitalization of $134.17 million, a price-to-earnings ratio of -2.87 and a beta of 3.09. The firm’s 50-day moving average is $2.27 and its two-hundred day moving average is $2.37.

GrowGeneration (NASDAQ:GRWG) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). GrowGeneration had a negative net margin of 22.68% and a negative return on equity of 18.00%. The business had revenue of $53.54 million during the quarter, compared to the consensus estimate of $53.00 million. During the same quarter in the prior year, the company earned ($0.09) EPS. On average, sell-side analysts forecast that GrowGeneration will post -0.36 earnings per share for the current fiscal year.

About GrowGeneration

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.