GrowGeneration (NASDAQ:GRWG) Trading Up 6.6% – Here’s Why

GrowGeneration Corp. (NASDAQ:GRWG) shares were up 6.6% on Monday . The company traded as high as $0.98 and last traded at $0.97. Approximately 591,503 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 665,224 shares. The stock had previously closed at $0.91.

GrowGeneration Stock Performance

The company’s 50-day moving average price is $1.10 and its 200-day moving average price is $1.54. The firm has a market capitalization of $57.55 million, a PE ratio of -1.11 and a beta of 3.44.

Insiders Place Their Bets

In related news, President Michael Salaman bought 85,465 shares of the stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average price of $1.21 per share, for a total transaction of $103,412.65. Following the acquisition, the president now owns 1,639,313 shares in the company, valued at approximately $1,983,568.73. This represents a 5.50 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Darren Lampert purchased 82,639 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average price of $1.19 per share, for a total transaction of $98,340.41. Following the completion of the purchase, the chief executive officer now directly owns 1,728,522 shares in the company, valued at $2,056,941.18. This represents a 5.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 7.07% of the stock is owned by company insiders.

Institutional Trading of GrowGeneration

A number of hedge funds and other institutional investors have recently made changes to their positions in GRWG. Tidal Investments LLC grew its stake in GrowGeneration by 24.7% during the 3rd quarter. Tidal Investments LLC now owns 1,870,563 shares of the company’s stock worth $3,984,000 after buying an additional 370,635 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of GrowGeneration by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,368,953 shares of the company’s stock valued at $2,314,000 after acquiring an additional 17,254 shares during the period. Monaco Asset Management SAM acquired a new position in shares of GrowGeneration in the 4th quarter valued at $783,000. Renaissance Technologies LLC acquired a new stake in GrowGeneration during the 4th quarter worth $431,000. Finally, Jane Street Group LLC grew its position in GrowGeneration by 120.0% during the 3rd quarter. Jane Street Group LLC now owns 166,798 shares of the company’s stock worth $355,000 after purchasing an additional 90,966 shares during the last quarter. Institutional investors and hedge funds own 36.02% of the company’s stock.

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.