GrowGeneration (NASDAQ:GRWG) Rating Lowered to Sell at Zacks Investment Research

GrowGeneration (NASDAQ:GRWG – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “GrowGeneration Corp. owns and operates specialty retail hydroponic and organic gardening stores. The company carries and sells product which includes organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers. It operates primarily in Colorado, California, Las Vegas, Rhode Island and Washington. GrowGeneration Corp. is headquartered in Pueblo, Colorado. “

Other equities analysts also recently issued reports about the company. Roth Capital downgraded GrowGeneration from a “buy” rating to a “neutral” rating and cut their target price for the company from $20.00 to $8.00 in a research report on Thursday, March 3rd. Oppenheimer cut their target price on GrowGeneration from $50.00 to $15.00 in a research report on Thursday, May 12th. Wells Fargo & Company cut their target price on GrowGeneration from $8.00 to $4.00 in a research report on Wednesday, May 11th. Finally, Alliance Global Partners cut their target price on GrowGeneration from $14.00 to $7.00 in a research report on Wednesday, May 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.50.

GrowGeneration stock traded down $0.40 during mid-day trading on Tuesday, reaching $4.57. 1,457,654 shares of the company were exchanged, compared to its average volume of 2,131,538. The business has a fifty day moving average of $7.31 and a 200 day moving average of $10.55. The firm has a market cap of $277.60 million, a P/E ratio of 228.50 and a beta of 2.84. GrowGeneration has a 12-month low of $3.62 and a 12-month high of $52.80.

GrowGeneration (NASDAQ:GRWG – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). GrowGeneration had a net margin of 0.35% and a return on equity of 0.40%. The business had revenue of $81.80 million for the quarter, compared to analysts’ expectations of $83.57 million. During the same quarter in the prior year, the company posted $0.10 EPS. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, equities research analysts predict that GrowGeneration will post -0.09 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors increased its stake in shares of GrowGeneration by 644.4% in the 1st quarter. Captrust Financial Advisors now owns 3,000 shares of the company’s stock valued at $28,000 after purchasing an additional 2,597 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of GrowGeneration by 828.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,250 shares of the company’s stock valued at $30,000 after purchasing an additional 2,900 shares in the last quarter. CWM LLC purchased a new position in shares of GrowGeneration in the 4th quarter valued at about $39,000. Newbridge Financial Services Group Inc. increased its stake in shares of GrowGeneration by 800.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 4,500 shares of the company’s stock valued at $59,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Strs Ohio increased its stake in shares of GrowGeneration by 2,866.7% in the 1st quarter. Strs Ohio now owns 8,900 shares of the company’s stock valued at $81,000 after purchasing an additional 8,600 shares in the last quarter. 44.93% of the stock is currently owned by institutional investors.

About GrowGeneration (Get Rating)

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 nutrients, growing media, advanced indoor and greenhouse lighting, environmental control systems, vertical benching, and accessories for hydroponic gardening, as well as other indoor and outdoor growing products.

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