urban-gro, Inc. (NASDAQ:UGRO) Sees Significant Increase in Short Interest

urban-gro, Inc. (NASDAQ:UGROGet Rating) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 159,200 shares, a growth of 25.6% from the August 15th total of 126,800 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average daily trading volume, of 75,000 shares, the short-interest ratio is currently 2.1 days.

urban-gro Stock Down 0.6 %

Shares of UGRO stock opened at $3.10 on Friday. The stock has a 50-day simple moving average of $4.93 and a 200 day simple moving average of $6.61. urban-gro has a fifty-two week low of $2.91 and a fifty-two week high of $14.77. The stock has a market capitalization of $32.97 million, a P/E ratio of -10.33 and a beta of 2.72.

urban-gro (NASDAQ:UGROGet Rating) last announced its earnings results on Monday, August 15th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.09). urban-gro had a negative net margin of 3.99% and a negative return on equity of 6.34%. The firm had revenue of $16.28 million for the quarter, compared to the consensus estimate of $18.42 million. On average, sell-side analysts anticipate that urban-gro will post -0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

UGRO has been the topic of a number of research analyst reports. Maxim Group lowered their price target on urban-gro from $20.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, August 16th. Roth Capital initiated coverage on urban-gro in a report on Monday, September 12th. They set a “buy” rating and a $6.00 price target on the stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. AdvisorShares Investments LLC boosted its position in shares of urban-gro by 6.7% in the 1st quarter. AdvisorShares Investments LLC now owns 650,790 shares of the company’s stock valued at $6,989,000 after purchasing an additional 40,634 shares during the period. AWM Investment Company Inc. boosted its position in shares of urban-gro by 52.1% in the 2nd quarter. AWM Investment Company Inc. now owns 396,424 shares of the company’s stock valued at $1,919,000 after purchasing an additional 135,864 shares during the period. Vanguard Group Inc. boosted its position in shares of urban-gro by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 337,643 shares of the company’s stock valued at $3,626,000 after purchasing an additional 22,506 shares during the period. Bard Associates Inc. boosted its position in shares of urban-gro by 5.3% in the 2nd quarter. Bard Associates Inc. now owns 298,720 shares of the company’s stock valued at $1,446,000 after purchasing an additional 15,125 shares during the period. Finally, Redmond Asset Management LLC boosted its position in shares of urban-gro by 18.2% in the 1st quarter. Redmond Asset Management LLC now owns 182,489 shares of the company’s stock valued at $1,960,000 after purchasing an additional 28,143 shares during the period. Institutional investors own 25.29% of the company’s stock.

About urban-gro

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urban-gro, Inc operates as an engineering design services company that integrates complex environmental equipment systems to create indoor cultivation facilities for the commercial horticulture market in the United States, Canada, and Europe. The company offers engineering and design services, including cultivation space programming, integrated cultivation design, and full-facility mechanical, electrical, and plumbing engineering; training services ranging from equipment standard operating procedure libraries to staff training sessions; facility and equipment commissioning services; program overview and pricing; and related-party hardware and software platforms.

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