GrowGeneration (NASDAQ:GRWG) Shares Down 2.6% – Here’s What Happened

GrowGeneration Corp. (NASDAQ:GRWG)’s stock price fell 2.6% during mid-day trading on Monday . The company traded as low as $1.4850 and last traded at $1.50. 396,437 shares traded hands during trading, a decline of 65% from the average session volume of 1,146,756 shares. The stock had previously closed at $1.54.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of GrowGeneration in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.50.

GrowGeneration Stock Performance

The firm has a 50-day moving average of $1.60 and a 200-day moving average of $1.48. The firm has a market capitalization of $89.76 million, a P/E ratio of -2.24 and a beta of 2.38.

GrowGeneration (NASDAQ:GRWG) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.05. GrowGeneration had a negative net margin of 24.77% and a negative return on equity of 29.82%. The firm had revenue of $47.25 million during the quarter, compared to analysts’ expectations of $41.56 million. On average, research analysts forecast that GrowGeneration Corp. will post -0.58 EPS for the current fiscal year.

Insider Transactions at GrowGeneration

In other news, CEO Darren Lampert sold 70,280 shares of GrowGeneration stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $1.74, for a total transaction of $122,287.20. Following the transaction, the chief executive officer owned 1,708,242 shares in the company, valued at $2,972,341.08. This trade represents a 3.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 7.62% of the company’s stock.

Institutional Trading of GrowGeneration

Several hedge funds have recently bought and sold shares of the stock. Catalyst Funds Management Pty Ltd bought a new position in shares of GrowGeneration during the 2nd quarter valued at approximately $25,000. Engineers Gate Manager LP bought a new stake in GrowGeneration during the 2nd quarter worth approximately $26,000. AQR Capital Management LLC purchased a new position in GrowGeneration during the first quarter valued at approximately $27,000. Scientech Research LLC bought a new position in shares of GrowGeneration in the third quarter worth approximately $37,000. Finally, XTX Topco Ltd bought a new position in shares of GrowGeneration in the second quarter worth approximately $55,000. Institutional investors own 36.02% of the company’s stock.

About GrowGeneration

GrowGeneration Corp. is the largest chain of specialty hydroponic and organic garden centers in the United States, serving commercial and home growers of all experience levels. The company offers a broad assortment of cultivation supplies, including high-efficiency LED lighting, climate control systems, irrigation and fertigation equipment, growing media and nutrients. Through its retail outlets and e-commerce platform, GrowGeneration caters to indoor and outdoor horticultural operations, with a particular focus on the rapidly expanding legal cannabis market.

In addition to its product offerings, GrowGeneration provides design, consulting and project management services for turnkey cultivation facilities.