GrowGeneration (NASDAQ:GRWG) Trading 4.5% Higher – Should You Buy?

GrowGeneration Corp. (NASDAQ:GRWG)’s stock price was up 4.5% during mid-day trading on Thursday . The company traded as high as $1.20 and last traded at $1.17. Approximately 515,152 shares changed hands during mid-day trading, an increase of 60% from the average daily volume of 321,033 shares. The stock had previously closed at $1.12.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of GrowGeneration in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2.50.

GrowGeneration Trading Up 4.5%

The company has a market capitalization of $70.01 million, a P/E ratio of -1.75 and a beta of 2.42. The stock has a 50 day moving average price of $1.48 and a 200 day moving average price of $1.55.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GRWG. AWM Investment Company Inc. boosted its position in GrowGeneration by 8.7% during the 4th quarter. AWM Investment Company Inc. now owns 3,380,784 shares of the company’s stock worth $5,071,000 after buying an additional 271,249 shares during the period. Monaco Asset Management SAM raised its stake in shares of GrowGeneration by 37.3% during the fourth quarter. Monaco Asset Management SAM now owns 1,024,125 shares of the company’s stock valued at $1,536,000 after acquiring an additional 278,179 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of GrowGeneration by 36.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,019,333 shares of the company’s stock worth $1,529,000 after purchasing an additional 270,023 shares during the period. Jane Street Group LLC grew its stake in shares of GrowGeneration by 1,193.2% in the second quarter. Jane Street Group LLC now owns 792,229 shares of the company’s stock worth $741,000 after purchasing an additional 730,968 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in GrowGeneration by 55.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 519,681 shares of the company’s stock valued at $972,000 after purchasing an additional 184,626 shares during the period. 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.